Business Services Industry
Business Investment Is on the Mend, Federal Reserve Official Says.
Knight Ridder/Tribune Business News, March, 2002
By David Nicklaus, St. Louis Post-Dispatch Knight Ridder/Tribune Business News
Mar. 9--The drop in business investment appears to be ending, the president of the St. Louis Federal Reserve Bank says.
Recent data "suggest that the capital spending part of the economy is on the mend," St. Louis Fed President William Poole said Friday in a speech prepared for the Southwest Finance Association.
Even technology spending is due for an upturn, Poole said. "As prospects for final demand growth become clearer and the recession in corporate profits comes to an end, we can expect to see firms once again resume heavy investment in information technology," he said.
Investment spending fell 9.2 percent last year, but that "was not extreme in...
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