Downturn fears have businesses playing defense

With the prospects of an economic downturn looming next year, U.S. companies are battening down the hatches — spending and investing less, reducing debt and stashing cash.

However, that behavior could have an opposite effect by weakening the economy and triggering the conditions they fear, Axios reports. It cites six consecutive months of declining business investment, including a 3% drop in the third quarter, and the first negative workforce productivity report in four years.

Companies are sitting…

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Source: Homes and Lifestyle