Economy

ISM Manufacturing Reports Growth in September

According to the latest Manufacturing Institute for Supply Management (ISM) Report On Business, economic activity in the manufacturing sector grew in September, with the overall economy achieving a 28th consecutive month of growth. read more

ACT Research’s September Forecasts Remain Unchanged, Recession Still Expected

In September, ACT Research reported essentially unchanged forecasts from last month, as demand remains healthy, production remains constrained and freight rates and volumes managed to squeak out small improvements compared to August. read more

Federal Reserve Boosts Federal Funds Rate, Matches Increases in June and July

The Federal Reserve continued its efforts to curb rising inflation on Wednesday, announcing that it will raise the target range for the federal funds rate to between 3% and 3.25%, marking yet another 0.75% increase following similar actions in June and July. read more

EQ Riskfactor: 68% of US Businesses More Profitable Than Before COVID-19 Pandemic

According to a new report from EQ Riskfactor, 68% of U.S. businesses said they are more profitable today than they were before the COVID-19 pandemic compared to 71% of UK businesses. read more

Financial Services Sector Faces Talent Scarcity, Lack of Support for DE&I in Hiring Practices

According to Randstad Sourceright’s 2022 Talent Trends banking and financial services sector report, 49% of leaders in the banking and financial services industry report talent scarcity for IT skills while only 41% said their hiring practices supported their diversity goals last year. read more

Small Business Loan Approval Rates Dip at Big Banks in August, Improve for Smaller Banks

According to the latest Biz2Credit Small Business Lending Index, small business loan approval percentages at big banks (more than $10 billion in assets) dipped from 15.3% in July to 15.1% in August but rose at small banks from 21.2% in July to 21.4% in August. read more

ACT Research: Despite Likely Recession, Factors Continue to Dull a Sharper Downturn

According to ACT Research, forecasts this month remain unchanged from last month. Demand remains healthy, production remains constrained by supply chain disruptions and tight labor markets, and freight rates and volumes managed to squeeze out small improvements. read more

ACT Research: NA Class 8 Net Orders Surpass 21K Units in August

According to preliminary data from ACT Research, North American Class 8 net orders in August were 21,600 units, while North American Classes 5-7 net orders were 18,400 units. read more

NACM’s August CMI Reveals Stress in Manufacturing Sector

The National Association of Credit Management’s Credit Managers' Index (CMI) remained at a combined score of 55 in August, with improvements in unfavorable factor indexes offsetting deterioration in favorable factor indexes. read more

ACT Research Shifts Forecasts Lower, Anticipates Inbound Recession

In the latest release of its Commercial Vehicle Dealer Digest, ACT Research reported shifts — both higher and lower adjustments, but in aggregate, lower still — in forecasts last month to incorporate an inbound recession. read more

ELFA: July New Business Volume in Equipment Finance Rises 2% Y/Y

According to the Equipment Leasing and Finance Association, overall new business volume for July was $10.1 billion, up 2% year over year from new business volume in July 2021. However, volume was down 2% from $10.3 billion in June. read more

ACT: Inflation, Supply Chain Disruption and Potential Recession Remain Themes

Surging inflation, the Fed hiking interest rates into a potential recession and supply chain disruptions remain overarching themes in the commercial vehicle market, according to ACT Research’s latest State of the Industry: NA Classes 5-8 report. read more

Equipment Finance Industry Confidence Improves in August

According to the Equipment Leasing & Finance Foundation’s August 2022 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall confidence in the equipment finance market is 50, an increase from the July index of 46.1. read more

Stifel Survey Finds Inflation and Labor Shortages Pose Greatest Risk to Business

According to a survey of corporate executives, business owners and private equity investors from Stifel Financial, inflation and the tight U.S. labor market represent the two biggest perceived threats to business today. read more

ACT Research Fine-Tunes Downturn Forecasts

ACT Research shifted its forecasts last month to include an inbound recession, while this month’s forecast changes were characterized by smaller adjustments, both higher and lower, as the shape of the downturn forecasts were fine-tuned. read more

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Terry Mulreany
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