According to the results of the latest Phoenix Management "Lending Climate in America" quarterly survey, three-quarters of commercial lenders expect a dramatic improvement in the economy in the next six to 18 months, but they are evenly split on whether the recovery will occur this year or next.
Of the 120 lenders, from factors, commercial finance companies and commercial banks across the US who participated in this quarter's survey, 40% said an economic recovery would occur by year-end, while another 36% predicted it would happen in 2004. An economic recovery would not occur until 2005 or later in the view of 17%, and 8% thought it would happen within six months.
