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Small Businesses: Difference between revisions
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=== Q3 2023 === | === Q3 2023 === | ||
Financial decision-makers ranked monetary policy as their top business concern, as higher interest rates have curtailed spending at approximately 40 percent of companies. The CFO outlook is brighter for 2024, however, with higher revenues and hiring expected next year, along with smaller increases in prices and input costs.<blockquote>“Monetary policy appears to be further dampening business spending and hiring plans,” said John Graham, finance professor at Duke University’s Fuqua School of Business and the director of the survey. “Overall, the weak (but still positive) growth in 2023, followed by improved prospects in 2024, suggests that policymakers may yet pull off a soft landing for the U.S. economy.” </blockquote> | Financial decision-makers ranked monetary policy as their top business concern, as higher interest rates have curtailed spending at approximately 40 percent of companies. The CFO outlook is brighter for 2024, however, with higher revenues and hiring expected next year, along with smaller increases in prices and input costs.<ref>https://www.richmondfed.org/research/national_economy/cfo_survey/data_and_results/2023/20230927_data_and_results#3a90bff19b504ccab2d621648acd050a</ref><blockquote>“Monetary policy appears to be further dampening business spending and hiring plans,” said John Graham, finance professor at Duke University’s Fuqua School of Business and the director of the survey. “Overall, the weak (but still positive) growth in 2023, followed by improved prospects in 2024, suggests that policymakers may yet pull off a soft landing for the U.S. economy.” </blockquote> | ||
* Respondents expect employment growth to increase to nearly 4 percent in 2024, up from about 1 percent this year. | * Respondents expect employment growth to increase to nearly 4 percent in 2024, up from about 1 percent this year. | ||