JULY 2024 INDUSTRY NEWS AND TRENDS
Bank execs weigh in on consumer outlook
Reuters recently took the pulse at America’s top banks by collecting comments from their executives, and the results are a mixed bag.
JPMorgan Chase sees the economy slowing based on muted consumer loan demand, while Wells Fargo anticipates a boost in consumer spending based on a strong labor market and wage increases. Other executives cited leading indicators such as net interest income (NII), net interest margin and consumer budgets in their predictions.
New report tracks payment data from 1,000s of B2B businesses
Payment platform Upflow has released its first-ever report on B2B payment trends, and the data offers a behind-the-scenes look at the accounts receivable of thousands of small and mid-sized businesses in industries such as manufacturing and supply chain, consulting, healthcare, IT and infrastructure, and human resources.
Find out which industries see the longest waits for payments and benchmark your company’s payment cycles with those of your peers.
Survey: CFOs are optimistic about the U.S. economy
A new survey conducted by global accounting firm Grant Thornton found that CFO optimism about the U.S. economy has reached its highest level since Q3 2021.
Of the 225 financial leaders surveyed, 58% expressed optimism about the U.S. economy, and 75% expected their net profit to grow over the next year.
The survey also collected input about the challenges CFOs face, including managing costs and hiring talent.
