According to Rouse Asset Services, capital expenditures (capex) on rental assets by major North American rental firms in the first half of 2011 were 293% of capital expenditures January through June of 2010.
For the 12 months ending June 30, 2011, capital expenditures on rental assets by major North American rental firms were 318% of capital expenditures in the 12 months ending June 30, 2010.Total capex rebounded from prior years' lows to 61.6% of 2006 acquisition levels, Rouse reports in its July Construction Rental Report.
Comparing rental asset purchases for Q1 and Q2 of each year, 2006 represented the recent high capex; 2007 levels were 74.9% of the high; 2008 spending was 45.2% of that level; 2009 purchases dipped to 9.8% of the high; and 2010 rose slightly to 21.0%. For rental asset capital expenditures over the full years, 2006 levels represented the cycle high, 2007 purchases were 86.3% of the high, 2008 purchases were 45.2% of the high, 2009 levels were 12.0%, and 2010 purchases were 35.1% of the maximum.
