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Inside the Economy: Consumer Spending Supports U.S. Businesses

By October 19, 2020October 20th, 2020No Comments

This week on “Inside the Economy”, we look at the spending trends of U.S. consumers and the effect on domestic businesses. As unemployment rates improve, Americans get back to spending their hard-earned money. With used car sales continuing to climb—is public transportation doomed? The flight to the suburbs continues as downtown rental vacancies increase and new construction housing reaches a new high. This spending trend has had a positive impact on the U.S. economy as many businesses are seeing increased revenues. How has this spending trend impacted new business applications? Tune in to hear about all this and more!

Key Takeaways:

  • U.S. consumers continue to spend, especially on used cars and new build homes
  • Downtown rental vacancies across the U.S. reach new heights
  • Company revenues are recovering, boosted by consumer spending
  • Commercial and industrial lending increases as interest rates remain low
  • Applications for new U.S. businesses have grown by almost 40% year-over-year

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