Businesses Are Loading Up on Credit. Spending Could Follow.

have crimped their ability to spend it. But bankers say the activity in recent months is evidence that businesses are planning to turn on the spending spigot. That could help the economy shoot higher.

JPMorgan Chase & Co. and Bank of America Corp. , the two biggest banks in the U.S., together had nearly $1 trillion in unused corporate credit at the end of June. That is up 20% from a year ago and a quarterly record at both banks. “This virtuous circle of hiring workers and meeting customer spending will help drive the economy, and hopefully will result in more line usage on our loans,” Bank of America Chief Executive Brian Moynihan told analysts last month.

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