Capital spending by companies in all industries dropped 15.5 percent in the April-June quarter from the previous year, marking the third consecutive quarterly decline, the Finance Ministry reported Thursday.
The drop in spending was registered on the back of a continued slump in demand for information-technology products and followed a decline of 16.8 percent in the January-March quarter, the ministry said.
Investment in equipment and plants by manufacturers dropped 23.7 percent year-on-year for the fourth consecutive drop, according to a quarterly survey.