Meanwhile, the resilience of the Greek economy and the intensification of the fiscal effort through cuts in government expenditure and an increase in revenue (partly via one-off measures) in the second half of 2015 contributed to better than expected fiscal aggregates, as confirmed by the relevant Eurostat releases.
That said, software investment has remained firm; the software investment plan for fiscal 2020 in the Bank of Japan's September Tankan (Short-Term Economic Survey of Enterprises in Japan) has been revised upward from the June survey, and the year-on-year rates of increase have been at relatively high levels, mainly in the communications, information services, and retail industries (Chart 3).