(Bloomberg) -- America's factories are having trouble keeping up with demand. The average lead time for capital expenditures increased 7.9 percent in January to 150 days, the longest since February 1996, data from the Institute for Supply Management showed Thursday. The pickup underscores a flurry of business investment that's coincided with elevated confidence, lower U.S. tax rates, strengthening global economies and efforts to improve operating efficiency.
To contact the reporter on this story: Vince Golle in Washington at vgolle@bloomberg.net.
To contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Sophie Caronello
©2018 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
