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Industrial R&D Posts Largest Decline Yet in 2002, NSF Finds
Industrial research expenditures in the U.S. had a record single-year decline in 2002, according to the latest National Science Foundation (NSF) Survey of Industrial Research and Development. An inflation-adjusted decline of $8.6 billion was the largest-ever reported since the survey began in 1953. The 2002 tally, when measured in current dollars, also wins the ignoble distinction of reflecting the largest single-year absolute and percentage reduction at $7.7 billion and 3.9 percent, respectively.
A 4 percent constant dollar increase in research spending by nonmanufacturing industries moderated the 11.7 percent drop posted by the manufacturing sectors.
The dismal 2002 results follow record-high expenditures set as recently as 2000.
The NSF Issue Brief presenting the first look at the survey results is available at: http://www.nsf.gov/sbe/srs/infbrief/nsf04320/start.htm