The biggest US companies keep stepping up their spending on capital projects and encouraging signals to investors in an uncertain economic climate.

Companies from Google parent alphabet incorporated to General Motors Company to Pepsi Cola incorporated 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 company’s fast-growing operations or even optimize its inventory in the midst of a challenging business environment. According to executives.

Capital Expenditures among companies in the s&p 500 have been growing at a faster pace than stock repurchases for the first time since the first quarter of 2021, according to data analyzed by s&p Dow Jones indices from the second quarter earnings season, based on results from roughly two-thirds of the companies in the indexed capital expenditures have risen 20%.

From a year earlier to $149.8 billion, roughly in line with the first quarter’s growth rate meanwhile, share repurchases have climbed 10% to $160.8 billion, and dividends have increased 14% to $140.6 billion.

The spending boom has offered a lack of support to a stock market that has been buffeted by worries about soaring inflation and the pace of the Federal Reserve’s campaign. To raise interest rates. The s&p 500 has slumped 13%. This year but has rebounded 13% from its low end in June.