Abe Gets Ammunition for Sales-Tax Rise With G-20 Meeting

Japanese Prime Minister Shinzo Abe got ammunition to raise a sales tax, as capital-spending data pointed to faster economic growth than initially estimated and government panels backed an increased levy.

JPMorgan Chase & Co. and UBS AG said second-quarter gross domestic product may be revised up after investment data released today. A majority of those in seven consultative panels favored proceeding with the sales-tax increase, while also urging stimulus to offset the blow to consumption, Economy Minister Akira Amari told reporters Aug. 31 in Tokyo.