As a result, even once the oil price has decisively troughed, the lag in both cutting (and re-starting) capex projects is such that capex could remain a drag on GDP for a number of quarters," wrote Garthwaite's team.
As a result, even once the oil price has decisively troughed, the lag in both cutting (and re-starting) capex projects is such that capex could remain a drag on GDP for a number of quarters," wrote Garthwaite's team.