Corporate finance executives are feeling upbeat about their companies’ prospects and say they plan to start deploying some of the cash they’ve stockpiled over the next 12 months, according to an annual survey by American Express. Of the 541 senior finance executives surveyed worldwide, 45% say they are likely to spend some part of their cash reserves in the coming year. Just 34% say they plan to continue to preserve their cash hoard, down from 62% in 2011.
Spending plans are stronger among U.S. finance executives, with 52% saying they plan to put some of their cash reserves to work in the coming year. Just 31% of U.S. executives say they’re not planning to spend any of their cash, down from 48% in 2011.
Clarkson says the plans for hiring are a plus for the economy and notes that the survey indicates “a real focus on specialized labor.
“It’s not just hiring for hiring’s sake, it’s people with specific expertise that they’re looking for, whether in manufacturing or finance or other industries,” he says.