March 29, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. manufacturers' capital-spending expectations are down from last quarter, according to a quarterly survey by the National Association of Manufacturers (NAM). Respondents to the survey anticipate an increase of 1.8% in capital spending over the next 12 months, lower than 2.3% in fourth-quarter 2022--and the lowest rate since May 2020.

Still, $71.7 billion worth of capital Industrial Manufacturing projects across the U.S. are set to begin construction in the second quarter, according to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database.