Report
Report
Published August 27, 2024
Banks Economic & Market InsightsExplore state-level and industry level data that banks, credit unions and fintechs can leverage to track the downturn and be correctly positioned for the recovery in this monthly report.
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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.