Commercial lenders across the nation believe the economy will continue to slowly improve during the first half of 2004, but most said the job market would remain stagnant and that the unemployment rate would remain unchanged, according to the results of the latest Phoenix Management "Lending Climate in America" survey.
This survey is conducted quarterly to gauge shifts in lenders' attitudes toward the economy. Lenders from factors, commercial finance companies and commercial banks across the country are surveyed each quarter.
The 115 lenders who participated in this quarter's survey said the economy would finish the year at a C level, before beginning to improve during the first half of 2004. Nearly 60 per cent of respondents predicted the economy would then perform at a B level.
