US Witnessing ‘CapEx Comeback’ as Investment Wave Hits Economy: Treasury

The U.S. economy is experiencing a “CapEx Comeback” this year as private-sector investment soars, the Treasury Department said.
Capex, short for capital expenditures, refers to investments businesses make to purchase or upgrade industrial equipment, vehicles, technology infrastructure, and machinery. Economists consider capital expenditures as a gauge of the future, as companies expand capacity or bolster efficiency in anticipation of future growth.
According to Federal Reserve Board data shared by the Treasury, capital expenditures surged at an annualized rate of 11 percent in the second quarter, following a 23 percent surge in the first three months of 2025.
In the first half of the year, capex spending is up nearly 17 percent—the largest back-to-back quarterly increase in almost 30 years….