Last quarter Microsoft told financial analysts that the number declined largely because computer security concerns led to delays of purchases by corporate customers.
Consumers in the world's largest smartphone market may also be holding out for more substantial upgrades, which are expected to come with the iPhone 8. "We are seeing a kind of delay in purchasing behavior that we think is a consequence of the number of rumors and reports about future products," Cook told the site.
As part of the new reality, Mr. Panetta is expected to propose cuts in coming weeks to next-generation weapons, including delays in purchases of the F-35 Joint Strike Fighter jet, one of the most expensive weapons programs in history.
A pickup in the inflation rate would cause pain for Japan's legion of politically active retirees, but nudge people to spend before their money loses value — reversing the deflationary psychology of delaying purchases in anticipation of ever-lower prices.
Many corporations, however, are still expected to delay their purchases of PCs with Windows 7.
Some have had to delay completing purchases of homes and others have reported concerns about getting money for the weekend.
High interest rates over the past two years, although there was a slight decline recently, have further dented corporate demand for bank credit and forced urban consumers to delay their purchases of cars, homes and other products.
Some customers have had to delay completing purchases of homes and others reported concerns about getting money for the weekend, with overnight payments still not appearing on balances on Friday.
The added millstone of student loan debt, which recently exceeded $1 trillion in total, is making it even harder for many of them, delaying purchases of things like homes, cars and other big-ticket items and acting as a drag on growth, economists said.
Mr. Gates said the Pentagon would add $4.6 billion to the cost of developing the F-35 Joint Strike Fighter, made by Lockheed Martin, and would cover much of that expense by delaying purchases of 124 of the planes.
As consumers reduce spending and delay large purchases, manufacturers of everything from autos to appliances have cut production levels, which, in turn has led to a steep drop in steel orders.
