Capital Spending +1.9% y/y
- expected 1.7%, prior 6.1%
Capital Spending excluding software -1.7% y/y
- expected 2.4%, prior was 6.9%
Company profits -12.0% … ugly result
- prior 10.3%
Company sales +0.4%
- prior 3.0%
The better capex result should be a positive input for Q2 GDP (data due Sep 9).
Otherwise, that profits data sure is not good.