The biggest U.S. companies keep stepping up their spending on capital projects, an encouraging signal to investors in an uncertain economic climate.
Companies from Google parent Alphabet Inc. to General Motors Co. to PepsiCo Inc. are among those that have increased spending on big-ticket items, such as real estate, equipment or technology, to fuel growth. The investments are generally intended to expand the companies’ fast-growing operations or even optimize their inventory in the midst of a challenging business environment, according to executives.