A bullish business investment story is brewing 🏭

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Businesses are planning to invest in themselves in a big way. And it’s not just the billions of dollars worth of capital expenditures (capex) announced by the big tech companies.

Apollo Global’s Torsten Slok charted the capex spending plans indices from recent surveys of CEOs, small business owners, and manufacturing executives across four Federal Reserve bank districts.

“Corporate capex spending plans are moving higher after the election,” Slok wrote on Friday. “This points to upside risks to growth and hiring.”

Capex spending plans have been on the rise. (Source: Apollo Global)