NEW YORK, April 23 Fewer mid-sized companies
expect to make additional investments in their businesses or
seek more loans than a year ago, according to a survey in the
United States by banking giant JPMorgan Chase & Co.
Only 35 percent of executives at the companies said they
anticipate increasing capital spending in the next 12 months,
down from 44 percent a year earlier, according to the survey
released on Tuesday by the bank.
It found that 16 percent said they will likely cut back on
business investments, up from 13 percent who last year expected
"The bulk of companies are taking a cautious approach to
capital expenditures and accessing credit," the bank said.
Fewer of the executives - 29 percent compared with 34
percent - expect to need more credit in the coming year for
capital expenditures or working capital. About two-thirds of
those with no plans for new financing said they would do without
because their revenue was increasing. About one-fifth cited
economic uncertainty as the reason.
Since the financial crisis, the banking industry has been
struggling to find enough credit-worthy borrowers to keep
lending revenue from shrinking as interest rates have declined.
Jim Glassman, a senior economist at the bank, said the
results are consistent with the continuing reluctance of
customers of all sizes to borrow. "Everybody is still in a
cautious, don't-want-too-much-leverage mode," Glassman said.
The survey was taken in February and included executives
from 943 companies with annual revenue between $20 million and