Capex growth to slow

For the economy to grow faster, seems all the pieces, ‘on average’ have to grow faster?

Hopefully it picks up as most forecast, but seems to me the deficit maybe has gotten too small for the demand leakages, and all that follows from that…

US capex to grow at slowest rate in four years

(FT) Total capital expenditure by the non-financial companies in the S&P 500 index is forecast to rise by just 1.2 per cent in the 12 months to October, according to Factset, a market data company that compiles a consensus of analysts’ forecasts. In aggregate, analysts’ forecasts indicated the slowest growth in capital spending by the largest US companies since it declined in 2010, in the aftermath of the recession of 2007-09. The total net debt of non-financial companies in the S&P 500 has dropped from seven times earnings before interest, tax, depreciation and amortisation at the end of 2007 to just three times by last October, according to Factset. Spending by companies in the S&P 1200 global index increased by 15 per cent in 2011 and 11.3 per cent in 2012, but it was unchanged in the first six months of 2013 compared to the equivalent period of the previous year, according to S&P Capital IQ.