Thursday, December 24, 2009
Business investment is definitely picking up, with new orders for capital goods about 10% higher in November than they were at the low last April. Capex is still woefully below the levels it reached in the booming late-90s, but it is following the typical pattern in which it rebounds as a recession ends. It will take us many years to return to the heydays of the past, but at least we are moving in the right direction.
Posted by Scott Grannis at 8:11 AM