The amount of capital spending in the pipeline has fallen by $177 billion in the past three years and is set to slump even further in the coming year or two.

By the final quarter of 2015, the amount of capital investment to be worked through has fallen to $777 billion, down by $56 billion from a year earlier, according to the quarterly Investment Monitor report released by Deloitte Access Economics (DAE). Some of that was the result of the removal…