Utilities’ spending fell in the third quarter of ’86.
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The Conference Board, a business research group, said total spending on new plant and equipment by investor-owned gas and electric utilities fell 3.4% in the third quarter from the second quarter, to $7.84 billion. The survey attributed the fall in spending to cutbacks by electric utilities, which accounted for more than 80% of all spending and appropriations during the 1980s. Appropriations by electric utilities fell during the first three quarters of last year, running 39% below year-earlier levels, the survey noted.
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