Capsex-Ex Energy Case
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While CapEX –ex Energy has held relatively stable, share repurchase have declined $134.4 billion over the second quarter. This decline represents a 6.9% decline (Figure 2) from the first quarter and a 0.4% decline year-over-year. As companies are increasingly under pressure to create value for shareholder, we’re seeing an increase in share repurchases in the Information Technology, Financials, and Industrial sectors. The Information Technology sector spent $35.9 billion on share buybacks in Q2, which was more than all other sectors. The Financial sector led all of the major buyback sectors in terms of year-over year growth (+29.8%); while Industrials came in second with a growth rate of 17.1%. The Financials, Industrials, and Consumer Discretionary