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Official figures don't reflect rapid shift in US companies' investments

Instead of spending on buildings and big machines, firms are investing more in software and high-tech equipment

New York

KIM Beck once considered owning his factory's big production machines to be a big part of being a manufacturer. Not anymore. The chief executive of Automatic Feed Co, an 80-worker Ohio company that makes machines for car plants, now leases most of his factory and its heavy...

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