The US business climate remains strong with many companies in growth mode despite recent global economic headwinds – even as the current economic expansion enters its 11th year - according to a new report from Citizens Bank.
The first-ever Citizens Business Conditions Index is derived from proprietary corporate and public data about business growth and employment across the country, including factors such as revenue, manufacturing volumes and wages. An index greater than 50 indicates an expansionary trend and points to improved business conditions for the next quarter. The nationwide index sits at a healthy 61.2 for the second quarter of 2019, down slightly from 61.5 in the first quarter. This indicates that despite the questions inherent in a recovery of this length, US companies remain in a growth mode powered by healthy fundamentals.
“With the current boom now in its 11th year, many business leaders are wondering when the good times are going to end,” said Tony Bedikian, head of Global Markets for Citizens Commercial Banking.
“This Index provides a tool to help clients get ready for what’s next. There is a growing sense of uncertainty about a range of factors including trade, Fed rates, Brexit, and the 2020 election, just to name a few. Businesses should seize every opportunity to assess the economic landscape and make informed decisions on how to hedge their risks."
Citizens Commercial Banking currently partners with more than 7,000 middle market and mid-corporate clients across the US.
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