by Calculated Risk on 6/01/2007 11:27:00 AM

A press release from Wal-Mart states that Wal-Mart plans to build "190 and 200 new U.S. supercenters during this fiscal year". This is a significant reduction from the announced plans just six months ago:

In October 2006, the Company had announced that its fiscal year 2008 growth plans included between 265 and 270 supercenters in the United States.

This will result in approximately a 10% reduction in capital spending for Wal-Mart:

[The] strategy is expected to reduce capital expenditures for fiscal year 2008 to approximately $15.5 billion, down from the previously projected $17 billion ...

This reduction in spending by Wal-Mart is a sign that the commercial real estate boom might be ending. And, as I keep pointing out, continued strong non-residential investment is one of the keys for keeping the U.S. economy out of recession.