Capital expenditure over the January to March period
Capital spending 0.1% y/y
- preliminary +4.3% y/y, prior -3.5%
Capital spending excl. software -1.4% y/y
- preliminary +3.5% y/y, prior -5.0%
Company profits -28.4% y/y
- preliminary -32.0% y/y, prior -4.6% y/y
Company sales -7.5% y/y
- preliminary -3.5% y/y vs. -6.4% y/y prior
With such an uncertain outlook it is little surprise capex is down. Mix in the collapse in profits indicated there also.
Lower capex investment is not a positive for businesses ahead, but they are in a tight spot now and for the immediate future.