Business Investment Outlook Brightens
Businesses may finally be ready to spend the $1.6 trillion in cash they’ve been hoarding. A survey out today shows 61% of corporate economists say their firms will likely increase capital spending in the next year. Companies with big spending plans include Whirlpool. Finishing Professionals in Denver, which coats metal parts, recently spent nearly $1 million to automate one assembly line and add a second, says owner Dan Cahill. Business investment in equipment and buildings drives economic growth because the companies they buy from hire workers to meet the rising demand.
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