With inflation still affecting the US economy, lenders are now focused on the economic impact of the upcoming presidential election. Lenders’ expectations for the US economy’s performance in the longer term – beyond the next six months – has increased significantly from the prior quarter. This optimistic outlook is based on the expectation of a reduction in the federal funds rate, which will spur businesses to raise additional capital or increase hiring. In the Phoenix Management “Lending Climate in America” survey for Q3 2024, the lenders queried identify which macroeconomic factor concerns them the most, and which actions their customers have planned in the next six to twelve months. The survey also reveals whether lenders’ financial institutions plan to tighten, relax, or maintain their loan structures, how much growth their customers expect in 2024, and which industries are likely to experience the most volatility in the upcoming six months.
The “Lending Climate in America” survey is administered quarterly to lenders from various commercial banks, private credit funds, finance companies, and factors across the country. Our team of experts collects, tabulates, and analyzes the results to create a complete evaluation of national attitudes and trends.
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