Companies seen slashing capex 12per cent this year, deeper than in 2009: Data

BENGALURU: Big and mid-cap firms globally are expected to slash capital spending by an average 12 per cent this year as they reel from the fallout of lockdowns and other measures imposed to rein in the coronavirus pandemic, analysts' estimates show.

Reuters calculated average spending cuts by looking at estimates compiled by Refinitiv for nearly 4,000 firms. In China, which has managed to bring its coronavirus outbreak under control, the expected decline is much smaller at 4.5 per cent.

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