To date, investment has been concentrated in the manufacturing sector, although in the September quarter Tankan survey, firms in non-manufacturing industries expressed
positive investment intentions for the first time in five years.
The immediate
positive response from corporate America has been impressive as the transmission mechanism of fiscal stimulus has been expressed with
intentions to increase wages and bonuses, repatriate billions of dollar of foreign - domiciled capital, boost
investment (capital expenditure and research and development), and bolster shareholder outlays.