21.   On the positive side, capital spending remains strong, as companies continue to scarf up any equipment that will increase productivity.

22.   So what if labor is taxed more, if capital spending increases the demand for workers?

23.   The momentum even points to faster-than-expected recoveries in profits and capital spending, Business Week says.

24.   With capital spending on new factories likely to be depressed, more growth will have to come from consumer spending.

25.   The company also has reduced capital spending, consolidated its operations and used the Internet to try to reduce costs.

26.   The forecasters believe much of the anticipated economic slowdown will be based in interest-sensitive sectors, such as automobile sales, capital spending and housing.

27.   The downgrade was due to a government survey released Wednesday that showed capital spending by corporations dropped more than expected.

28.   To emphasize the point, Amtrak drew up its first long-term capital spending plan, which is being delivered Friday to Congress and the White House.

29.   Finance Minister Wataru Kubo told the same conference that consumer spending and private-sector capital spending were showing signs of a firm recovery.

30.   The quarterly report released Wednesday said the pace of recovery was expected to be moderate, given the continued decline in capital spending.