U.S. Companies' $1.93 Trillion Cash Hoard Biggest in 51 Years
U.S. corporations are piling up cash at the fastest rate in half a century. But instead of signaling a new wave of spending, that cash pile may mean tough times ahead.
Non-financial companies in the United States had stacked up $1.93 trillion in cash and other liquid assets at the end of September, up from $1.8 trillion at the end of June, the U.S. Federal Reserve said Thursday. Cash made up 7.4% of the companies' total assets -the largest chunk since 1959.
But capital spending and plans to hire new workers remain subdued, showing the deep concern companies harbor about a painfully slow economic recovery that has failed to put a dent in high unemployment and reignite consumer spending.
Link:
http://beforeitsnews.com/story/306/224/U.S._Companies_1.93_Trillion_Cash_Hoard_Biggest_in_51_Years.html
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