US companies stay cautious on spending under strain of trade war

on new factories and equipment by big US companies appears to have persisted through the third quarter of 2019, according to the latest round of earnings reports, which featured warnings from executives that budgets are likely to slow further in the final months of this year. Company executives have also indicated during earnings season that the pace of growth will slump to 1.8 per cent in the fourth quarter, underlining the shadow cast on boardrooms by trade wars and other global factors. “Corporate cash spending will continue to face pressure as management teams deal with persisting uncertainty,” David Kostin, chief US equity strategist for Goldman Sachs, said in a research note.

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