WASHINGTON, July 29, 2013 /PRNewswire/ -- Business confidence appears to have softened as the pace of corporate cash accumulation inched up during the second quarter of 2013 and companies are indicating a greater likelihood to build cash during the third quarter, according to the July 2013AFP Corporate Cash Indicators™ (AFP CCI). The AFP CCI™ are calculated each quarter by the Association for Financial Professionals (AFP) and underwritten by State Street Global Advisors. AFP Corporate Cash Indicators™ for 2Q2013------------------------------------------ +12 Change in cash holdings: 2Q13 v. 1Q13 +11 Change in cash holdings: 2Q13 v. 2Q12 +14 Expected change in cash holdings during 3Q13 Each of these indicators measure recent and anticipated changes in corporate cash balances by calculating increase percentage minus decrease percentage. Each quarter, AFP asks select members representing a broad cross section of U.S. businesses the same questions: whether their company's short-term holdings increased or decreased in the past year and past quarter; whether investment selections for those holdings changed; and whether they expect cash holdings to increase or decrease in the coming quarter. AFP member companies have agreed to participate in this ongoing study on a long-term basis. Participants manage their companies' cash and short-term investment portfolios and are fully aware of their companies' liquidity needs and business strategies. Since corporate decisions to grow/shrink the size of cash and short-term investment portfolios reflect their business outlook and direction, changes reported by this broad group of companies are indicators of economic activity. Second quarter 2013 indicators show that 38 percent of organizations held larger cash and short-term investment balances at the end of the June quarter than they did at the end of March, while 26 percent had shed cash in the second quarter.