Report
Report
Published July 25, 2024
Economic & Market InsightsRead the latest regional consumer spending and economic growth trends, as well as our in-house macroeconomic forecasts for the year ahead.
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Spending during the first quarter exceeded expectations, providing much-needed cash flow for small businesses. This influx of capital has enabled small firms to reduce debt and consider future growth and capital expenditures. Despite inflationary pressures and tighter lending conditions, the outlook remains cautiously optimistic. The Federal Reserve's anticipated rate cuts, expected to begin late in 2024, could further stimulate economic activity and provide a boost to small businesses.