Economic Growth Seen Holding Strong Into ’06

.S. companies plan to boost spending about 9% next year, according to surveys by the Institute for Supply Management and Financial Executives International, Bloomberg reported Monday.

Such investment may compensate for any weakening in consumer spending, which has powered economic expansion in recent years, Bloomberg said.

Business investment in the world’s largest biggest economies is forecast to be higher in 2006 after reaching a record 15% of global output this year, Bloomberg said, citing financial firm Morgan Stanley

Growth among the 30-plus members of the Organization for Economic Cooperation and Development will rise to 2.9% next year from 2.7% this year, and U.S. growth next year will extend a streak of 10 consecutive quarters above 3%, Bloomberg said, citing a survey it conducted of economists.