Businesses also in a holiday spending mood this year

— -- Consumers won't be the only ones opening their wallets this holiday season. Businesses are expected to step up capital spending the next few weeks to take advantage of a tax break good through Dec. 31.

Business investment could dip next year when the benefit is cut in half, but surveys show companies plan to continue to spend some of their large cash reserves on new equipment to increase productivity and replace worn gear.

With consumer spending uncertain amid weak income gains, businesses could remain a reliable pillar of growth.

"Business investment has been a shining light in this economic recovery," says economist Paul Dales of Capital Economics.

Outlays on equipment, software and non-residential structures rose 15% in the third quarter. Non-defense shipments of capital goods excluding aircraft — a good measure of business investment — are up about 10% this year.

Last week's government report on durable goods showed such shipments fell 1.1% in October, but they often fall in the first month of every quarter, says Mark Zandi, chief economist at Moody's Analytics.

He expects capital spending to rise by 8% in the fourth quarter as companies scramble to reap the full tax benefit. While that could dampen first-quarter spending, Zandi still expects expenditures to rise about 7% next year.

Dales says financial turmoil in Europe could prompt a pull-back.

So far, many appear bullish. More than half of the 70 large companies recently surveyed by the National Association for Business Economics plan to boost investment over the next year.

Companies are hesitant to hire but are eager to boost efficiency, in part so they can do more with fewer workers, says Shawn DuBravac, chief economist of the Consumer Electronics Association and head of NABE's forecasting panel. Eventually, he says, the increased investment will lead to more hiring.

American International Tooling, which makes parts for factory machines that seal cans, spent $400,000 on new equipment this year — 60% more than last year, Vice President John Konvicka says. The Minden, Nev., company hired two employees to run the machines.

The firm acted after its exports rose 25% as a weaker dollar made U.S. goods cheaper for foreign customers to buy, Konvicka says. It plans to spend $2 million on a new building and equipment next year.

Window maker Mannix of Brentwood, N.Y., is buying new factory gear for $50,000 — its first capital outlay since 2008 — to take advantage of a high-rise construction revival in Manhattan.

And How Do You Roll, a Texas chain that lets patrons quickly order custom sushi, is adding seven locations in California, Florida and Arizona next quarter, for $200,000 each.

With each 10-piece roll priced at $6, "in this economy we're a good alternative," CEO Yuen Yung says.