Given that firms adapt their plans as events unfold, the early readings on investment intentions for a given year often turn out to be wrong. We can see the extent of this by comparing the early estimates for a given year with the final (seventh) estimates in the Capex data.
For release on delivery 2:00 p.m. EDT July 14, 2020  Navigating Monetary Policy through the Fog of COVID  Remarks by Lael Brainard Member Board of Governors of the Federal Reserve System at the Perspectives on the Pandemic Webinar Series, hosted by the National Association for Business Economics Washington, D.C. (via webcast)  July 14, 2020  The COVID-19 contraction is unprecedented in modern times for its severity and speed.