The U.S. 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, down slightly from 61.5 in the first quarter. This indicates that despite the questions inherent in a recovery of this length, U.S. 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. “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."
Citizens developed the index to provide businesses with another opportunity to assess the economic landscape and make "informed decisions on how to hedge their risks,” he says.
The NH economy alos appears ot be well positioned fr the changing markerplace.
“New Hampshire has a solid and growing economy and a very favorable business climate,” says Joe Carelli, president of Citizens Bank, NH. “Companies like predictability and the uncertainty in the global economy recently has put some corporate plans on pause. However, most of our companies have long track records of success and are incredibly resilient when markets change. Often times, change brings opportunity and our New Hampshire-based companies have an ability to handle whatever comes at them.”