Connect with us

U.S: Small business borrowing rises as Trump elected president

kizinho

Published

on

Follow
NEWS: U.S: Small business borrowing rises as Trump elected president [New Naija News] » Naijacrawl
Photo: Naijacrawl
Borrowing by small U.


S. firms ticked up in November, data released on Thursday showed as Americans unexpectedly elected Republican Donald Trump as their next president.

The media/PayNet Small Business Lending Index rose to 129.9 in November from a downward revised 119.8 in October.

Measured from a year earlier, it was the first increase in six months.

Movements in the index typically correspond with movements in gross domestic product growth a quarter or two ahead.

Right now, weve got this post-election bounce because we know who will be in office, said Bill Phelan, PayNets Chief Executive and Founder.

Is this going to continue into a new era of growth or no? Thats unclear.

Trump has embraced a range of potential new policies, including tax cuts and infrastructure programme that boosters say will feed growth and critics say could add to already high national debt.

It could as well as bring changes to trade agreements that many economists, even those who support Trump, say could hurt U.S. growth overall.

Economic growth in the U.S. sped up in the third quarter to a 3.5 per cent annual pace.

While the Atlanta Fed currently estimates economic growth eased to 2.9 per cent in the fourth quarter, that is still well above the two per cent that many economists believe is a sustainable long-term pace.

Small business borrowing is a key barometer of growth because small companies tend to do much of the hiring that drives economic gains.

Companies also are having an easier time paying back existing debts, PayNet data showed.

The share of loans more than 30 days past due slipped in November to 1.67 per cent, the first decline in nearly a yeaPayNet collects real-time loan information such as originations and delinquencies from more than 325 leading U.S. lenders.

(Source: Reuters/NAN)

Click Here To Comment




kizinho
 

Adike Kizito is a top-rated software developer, blogger, sports, and entertainment lover. He is the CEO of these popular websites Naijacrawl.com and Mp3ager.com. He operates his software developing task through Kizzsoft.com,... Read More

Continue Reading
Click to comment

Be first to comment


Leave a Reply

Your email address will not be published. Required fields are marked *

Naija News

I'll Transform Nigeria Economy If Elected President - Orji Uzor Kalu

Piroll

Published

on

NAIJA NEWS: I'll Transform Nigeria Economy If Elected President - Orji Uzor Kalu [New Naija News] » Naijacrawl
Photo: Naijacrawl
Barely few days after he expressed his interest to govern the country if given the opportunity, Sen. Orji Uzor Kalu, the Senate Chief Whip, has assured Nigerians of a 20th-century economy if made a president.The erstwhile governor of Abia State says he will ensure Nigerians of jobs, if elected as president. of the country. The business mogul, who spoke on a radio programme in Umuahia, the Abia State capital, stressed that he’s capable of ruling Nigeria.“The problem...
Continue Reading

Naija News

Fresh Southern Kaduna attack: Death toll rises to 33, over 40 houses burnt

Victorious

Published

on

NAIJA NEWS: Fresh Southern Kaduna attack: Death toll rises to 33, over 40 houses burnt [New Naija News] » Naijacrawl
Photo: Naijacrawl
The death toll in the Saturday night attack on Runji village in Kaduna State has risen to 33.This was confirmed to Naijacrawl by the chairman of the Zangon Kataf Local Government Council, Francis Sani.He explained on Sunday that over 40 houses in the village were completely burned down by the attackers, adding that seven people sustained various degrees of injuries and are presently in the hospital receiving treatment.The 33 victims of the attack were given a mass b...
Continue Reading

Naija News

Nigeria Debt Profile Rises To #28.63 Tn

Piroll

Published

on

NAIJA NEWS: Nigeria Debt Profile Rises To #28.63 Tn [New Naija News] » Naijacrawl
Photo: Naijacrawl
Yesterday in a public debt portfolio released by the Debt Management Office , the total public debt portfolio of Nigeria has now risen to N28.63tn, the Debt Management Office said.In its Public Debt Portfolio report released on Thursday night, the DMO explained that the country’s total debt rose from the N27.4tn recorded in December 2019 to N28.63tn in March 2020.This indicates that within a space of three months, the country’s public debt portfolio grew by N1.23tn,...
Continue Reading

Latest


Download Naijacrawl App today

Fastest way to read on the go

Download the Naijacrawl App.