5.2% cut in capital outlays projected for '83 by US
American businesses will sharply reduce spending for new plant and equipment this year despite the expectation of analysts that an economic recovery will start soon, the Commerce Department said Wednesday.Skip to next paragraph
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According to a department survey completed in December, business will reduce capital spending by 5.2 percent in 1983 after adjustment for inflation. Last year, real spending fell 4.8 percent.