A few points in the Wall Street Journal regarding disappointing capital expenditures from US companies.
- Business Roundtable capex survey showed 44% expecting pickup in next 6 months versus 48% prior
- Only 24% of small business owners expect capital outlays in next 3-6 months, according to NFIB
A more bullish call is from the National Association for Business Economics who see capex up 3.2% this year compared to 3.1% last year but economists have routinely overestimated business investment.
I continue to believe that the best way for public companies to spend their money is on offshore accountants who can find new ways to avoid taxes.
