Companies from Ford Motor Co. to Panasonic Corp. are providing fresh fuel for the global economy as they begin to bolster employment and investment.
Stepped-up spending plans are helping reverse the surprise slowdown at the start of the year. They also signal that the next stage of international expansion will be stronger than the tepid recovery so far from 2009's worldwide recession.
"A pickup is taking place after a significant deceleration," said Gustavo Reis, New York-based economist at Bank of America Corp., which expects global growth to improve to 3.1 percent this year and 3.7 percent next year, from 2.9 percent in 2013.
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