Businesses to support remote workforce even after offices reopen
Business spending on structures fell in the first quarter, data from the Bureau of Economic Analysis showed last week. Technology spending has added to growth in all but two of the past 32 quarters, back to 2013. Accelerated by the pandemic, the divergence between the two types of business spending is here to stay, says Stanford economics professor Nicholas Bloom. American firmsâ€™ reliance on hybrid working should continue to lift business spending on technology for the forseeable future, said ING chief international economist James Knightley. Even then, he said, businesses will need to continue to spend more than ever on connectivity and computers to support the remote, or partially remote, workforce.