Japanese economy looking better again

After reporting some weaker economic data earlier this month, the Japanese economy is starting to look better again.

The Finance Ministry reported on Monday that capital spending was unchanged in the second quarter compared to the previous year. This was an improvement over the 3.9 percent decline in the first quarter.

Excluding software, capital spending rose 1.4 percent in the second quarter over the previous year after having fallen 5.2 percent in the first quarter.

Economic reports last Friday had also been positive.

Household spending rose 0.9 percent in July.

The unemployment rate fell to 3.8 percent in July from 3.9 percent in June.

Consumer prices excluding fresh food rose 0.7 percent from a year earlier, the biggest increase since November 2008.

Industrial production rose 3.2 percent in July after having fallen 3.1 percent in June.

And the Markit/JMMA manufacturing PMI rose to 52.2 in August from 50.7 in July, with output rising at the fastest rate in 30 months.