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25 30 35 40 45 50 5 10 15 20 25 30 35 40 45 50 Q1 Q1 Percent of Total Capital Spending IT Equipment, Software, and R&D IT Equipment & Software IT EQUIPMENT, SOFTWARE, AND RESEARCH & DEVELOPMENT SPENDING (as a percent of total capital spending in nominal GDP) Source: Bureau of Economic Analysis. yardeni.com Figure 3.
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