Overview

• The Bank of Japan's survey showed mixed business sentiment, with manufacturing confidence up but service-sector outlook declining.
• Public investment and private residential spending both saw significant downward revisions.
• The weak yen has inflated export profits but increased costs for imported goods, particularly oil and gas.
• Household spending fell in real terms, further dampening economic growth.
• The revised GDP data complicates the Bank of Japan's decision on future interest rate hikes.