Lingering impact of telecom meltdown

Industrial R&D spending inched up in both 2005 and 2006 with outlays totaling a projected $14.85 billion for 2006, a 1.3% increase over $14.65 billion in 2005. But when spending is measured in 1997 constant dollars, industry spending actually decreased in 2005 and will likely decline again in 2006.