Economy

Services Sector Activity Accelerates in May Amidst Raw Material Price Increases, Shortages

Economic activity in the services sector grew in May for the 12th month in a row, according to the latest Services ISM Report on Business from the Institute for Supply Management. read more

ISM: Manufacturing Sector Expands in May Despite ‘Labor Obstacles’

Economic activity in the manufacturing sector grew in May, with the overall economy notching a 12th consecutive month of growth, according to the latest Manufacturing ISM Report on Business from the Institute for Supply Management. read more

Equipment Finance Industry Confidence Remains Near Historic High in May

According to the Equipment Leasing & Finance Foundation’s May 2021 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall confidence in the equipment finance market is 72.1, easing from April’s all-time high of 76.1. read more

ISM Expects U.S. Economic Recovery to Continue for Rest of 2021

Economic recovery in the U.S. will continue for the rest of 2021, according to the Institute for Supply Management. Expectations for the remainder of 2021 have strengthened somewhat compared with December 2020, with both the manufacturing and services sectors signaling expansion. read more

ISM: Services Sector Activity Expands as Prices Index Reaches Highest Reading Since 2008

Economic activity in the services sector grew in April for the 11th month in a row, according to the latest Services ISM Report on Business from the Institute for Supply Management. read more

Manufacturing Sector Grows in April Despite Extended Lead Times and Higher Commodity Prices

Economic activity in the manufacturing sector grew in April, with the overall economy notching an 11th consecutive month of growth, according to the latest Manufacturing ISM Report on Business from the Institute for Supply Management. read more

Biz2Credit: Non-PPP Loan Approval Rates Remain Relatively Unchanged in April

Small business loan approval percentages at big banks (or those with more than $10 billion in assets) dipped slightly to 13.4% in April from 13.5% in March 2021, according to Biz2Credit. Similarly, approvals at small banks dropped to 18.2% in April, which was down from 18.3% in March. read more

First Citizens: Small Business Growth Confidence Back to Pre-Pandemic Levels

A survey from First Citizens Bank found nearly 80% of small business owners are confident or very confident in business growth over the next 12 months, which marks a 9% increase since September 2020 and a return to pre-COVID-19 pandemic levels. read more

TD Bank Survey Shows 41% of Small Business Owners Expect Revenue Growth in 2021

According to TD Bank’s 2021 small business survey, 41% of small business owners expect to grow their revenue in 2021, while only 9% anticipate a decline. read more

NACM’s April Credit Managers’ Index Reflects Economic Gains 

The National Association of Credit Management’s Credit Managers’ Index for April 2021 reached a high not seen for more than 15 years. The monthly combined index for manufacturing and service sectors broke through the 60 mark with a reading of 60.6 after hovering in the high 50s for several months. read more

Citizens: U.S. Business Conditions Recover with Increased Vaccinations, Fiscal Package

Continued economic recovery from the shock of the COVID-19 pandemic kept the Q1/21 national Citizens Business Conditions Index (CBCI) in upbeat territory with a reading of 53.3. This compares with a Q4/20 reading of 56. A reading above 50 is considered expansionary. read more

Balboa Capital Survey: Small Business Owner Optimism Rebounding in 2021

According to Balboa Capital’s Q2/21 Small Business Owner Survey, half of small businesses experienced increased revenues in Q1/21 and seven in 10 small business owners expect their companies to perform better in 2021 than they did in 2020. read more

Truist: U.S. Business Owners Optimistic While Re-Examining Strategies

Following a challenging year marred by the impact of the COVID-19 pandemic, business owners are optimistic about the next six months and are re-examining their business and financial strategies, according to a survey from Truist. read more

ACT Research: Much to Like About Economy, Freight and Commercial Vehicle Demand

In the most recent release of its Commercial Vehicle Dealer Digest, ACT Research reported that there is much to like about the current state of the U.S. economy as well as from both freight and commercial vehicle demand perspectives. read more

ELFA: New Business Volume in Equipment Finance Industry Rises in March

According to the Equipment Leasing and Finance Association’s Monthly Leasing and Finance Index (MLFI-25), overall new business volume for March was $9.3 billion, up 4% year over year from new business volume in March 2020. Volume was up 26% month to month from $7.4 billion in February. read more

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Terry Mulreany
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