Economy

Businesses Owned by Women Increased Revenues by 15.5% in 2023

According to Biz2Credit’s Women-Owned Business Study, earnings for small businesses owned by women remained steady in 2023 while average annual revenue for businesses owned by women increased 15.5%. read more

Manufacturing Sector Economic Activity Contracted for 16th-Straight Month in February

Economic activity in the manufacturing sector contracted in February for the 16th consecutive month following one month of “unchanged” status and 28 months of growth prior to that, according to the latest Manufacturing ISM Report on Business from the Institute for Supply Management. read more

PNC Survey Shows Business Owner Optimism Continues to Soar Amid Improving Economic Conditions

According to PNC's latest semi-annual survey of small and mid-sized businesses, which concluded Feb. 1, business owner optimism about economic conditions over the next six months has reached a 22-year high amid lessening fears of a recession. read more

Bain & Company Projects Imminent Crunch on Wholesale Banking, Suggests Climate Finance & AI as Future Revenue Drivers

According to a report from Bain & Company, wholesale bank revenue growth rates could drop to a CAGR of 2% by 2025. To address this imminent crunch, Bain & Company urges wholesale banks to seize new sources of growth, including climate finance and AI deployment. read more

More Than 50% of Banks Concerned About Dependency on Legacy Technology

According to a survey from Dragonfly Financial Technologies, 53% of banking executives are concerned or very concerned about their current dependency on legacy technology and rising technology debt. read more

Citizens Business Conditions Index Rose in Q4/23, Indicating Optimism About US Economy

Citizens Business Conditions Index rose to 51.8 in Q4/23, supported by continued resilience in the labor market and consumer trends. The second consecutive quarterly reading above 50 indicates that the U.S. economy exited 2023 with momentum. read more

ELFA Reports 3.9% Y/Y Growth in New Business Volume in Equipment Finance Industry in 2023

According to the Equipment Leasing and Finance Association’s Monthly Leasing and Finance Index (MLFI-25), overall new business volume for December was $12.5 billion, up 2% year over year, while cumulative new business volume for 2023 was up 3.9% compared to 2022. read more

MUFG Says Soft Landing is ‘Increasingly Plausible’ in 2024 Economic Outlook

According to Mitsubishi UFJ Financial Group (MUFG)’s 2024 economic outlook, a so-called U.S. 'soft landing' seems increasingly plausible, although MUFG’s economists are still looking for a cyclical slowdown. read more

Equipment Finance Industry Confidence Improves in January

The Equipment Leasing & Finance Foundation released the January 2024 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), finding that, overall, confidence in the equipment finance market is 48.6, an increase from the December index of 42.5. read more

ELFA Unveils Top 10 Equipment Acquisition Trends for 2024

The Equipment Leasing and Finance Association revealed its Top 10 Equipment Acquisition Trends for 2024, including projections of 1.7% growth in real U.S. GDP and 2.2% growth in real equipment finance software investment. read more

Banks to Face a Slower Economy, Tighter Regulation and a Potential Drop in Rates in 2024

S&P Global Ratings expects most banks to perform well and build capital in 2024, according to its 2024 U.S. bank outlook. Still, potential further declines in deposits, funding cost pressures, unrealized losses, commercial real estate exposures and economic uncertainty remain key risks. read more

Citizens M&A Outlook Finds Surging Enthusiasm for Dealmaking in 2024

Citizens’ 2024 M&A outlook report revealed optimism about the environment for dealmaking activity this year, underpinned by solid expectations for the U.S. economy and a pop in enthusiasm, especially among buyers. read more

US Economic Activity in Manufacturing Sector Contracted Again in December

Economic activity in the manufacturing sector contracted in December for the 14th consecutive month following a 28-month period of growth, according to the Manufacturing ISM Report on Business from the Institute for Supply Management. read more

SFNet: Asset-Based Lending Market Held Steady in Q3/23

The asset-based lending market held steady in Q3/23 amid positive developments in the U.S. economy, such as easing inflation, strong consumer spending and a solid job market, according to data released by the Secured Finance Network. read more

MUFG Says Best Case for US Economy in 2024 is a Mild Recession

In a 2024 outlook report, Mitsubishi UFJ Financial Group’s U.S. macro strategy team looked at the various economic scenarios for 2024, writing that the best case is a mild U.S. recession — a bumpy landing — for next year. read more

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