Total business spending for fresh ...

Total business spending for fresh plant and capital equipment, including modern buildings, equipment and building retrofit/renovation work declined in each quarter of 2001. And preliminary data for the first quarter of 2002 displays the downturn continuing although its severity appears to be abating.
The instant depressed business investment environment describes a dramatic turnaround from the unprecedent roller in capital spending experienced between 1993 and 2000 For that eight-year period, business investment spending increased at a average annual rate of 10 percent