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Strategists see more industrial spending ahead as companies capitalize on climate legislation and declining renewable-energy costs. Making supply chains more resilient and bringing production closer to home has been a popular topic on recent company calls with investors. Capital spending rose for the ninth straight quarter in this year’s second quarter. “The investment has skyrocketed and is still unraveling,” says Dimple Gosai, head of U.S. ESG strategy at Bank of America.
–Barron’s