Capital spending by manufacturers jumped 15 percent in the October-December quarter from a year earlier for the biggest rise in 2 1/2 years, underscoring the strong capital investment fueling the recent economic recovery, the Finance Ministry said Thursday.
Helped by the brisk spending on plants and equipment by manufacturers, capital spending on an all-industry basis rose 5.1 percent from a year earlier for the third quarterly expansion, the ministry said.
Combined sales at companies increased 3.1 percent in the October-December quarter for the third straight quarterly gain. Combined corporate pretax profits rose 16.9 percent, the sixth successive quarterly increase.
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