The Duke University/CFO Global Business Outlook survey for the fourth quarter of 2015 shows executives’ confidence in the U.S. economy essentially unchanged from last quarter, rising slightly to 60.3 from the previous quarter’s 60.0, on a scale from 0 to 100 (and still down from the year’s zenith of 64.7 in the spring).

But the 500 or so U.S. executives responding to the survey also said they expected employment growth to continue. They see U.S.-based companies adding 200,000 employees per month in 2016, which would drive the unemployment rate below 5%.

At the same time, however, capital spending by these businesses is projected to be lackluster.

In this video, Fuqua School of Business Professor John Graham digs deeper into the capex numbers and other results from the Global Business Outlook Survey.