You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Fearing fiscal mess in Washington, businesses hold back

Business spending on new plants and equipment, which led the rebound from the recent recession, has slowed significantly amid fears Congress will be unable to avoid a year-end fiscal disaster.

US business spending fell last quarter for the first time in more than a year, an indicator that businesses are increasingly worried about the future and a harbinger of additional pullbacks in investment and hiring should the outlook continue to darken. On Monday, the survey of business confidence by the Associated Industries of Massachusetts found local businesses’ outlook on the national economy last month plunged to the same levels as during the recession.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week