Ray of Light: Corporate Cash Surges to $1.19 Trillion

Filed under: Good news, Economic Data

Thursday's positive economic data point concerns the sound that just about every American likes: the sound of cold, hard cash increasing.



A majority of companies in the S&P 500 increased cash to a combined $1.19 trillion, while reducing spending at the same time, Bloomberg News reported Thursday. That compares with about $688 billion in cash on hand at the same time a year ago.



However, investment and hiring remain low, mainly due to excessive industrial capacity, and high worker productivity in the U.S. economy.

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Ray of Light: Corporate Cash Surges to $1.19 Trillion originally appeared on BloggingStocks on Thu, 11 Feb 2010 16:30:00 EST. Please see our terms for use of feeds.

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