A Citizens Bank quarterly report point to a slight improvement in the business conditions in the US during the third quarter, as inflation shows signs of easing, and as the labor market and consumer spending continue to be strong despite the high interest rate environment.
Inflation is at a historic high, the Federal Reserve has raised its benchmark interest rate 2.5 percent in six months and talk of recession is in the air. Yet businesses’ appetite for debt didn’t dim in Q2.
Small businesses owners ended 2020 with increased optimism, and most expect to recover in 2021 from the economic challenges brought on by the pandemic, according to recent studies from national banks.
