Photographer: Mark Elias/Bloomberg

business

Lead Times for U.S. Capital Equipment Longest in 22 Years

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.

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