Discussion Paper

Fifth District Firms Are Cautiously Optimistic About 2024 Despite Concerns

Abstract: At the start of both 2023 and 2024, we asked our business survey panelists about their expectations for the upcoming year. In our recent December survey, we found that most manufacturing firms were pessimistic about the U.S. economy going into 2024 but were more bullish about their own-firm prospects. Additionally, manufacturers were more likely than services firms to expect lower revenue, employment, spending, and price growth in 2024 than they experienced before COVID-19.

Keywords: manufacturing; service sector; Fifth District; business survey;

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Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Regional Matters

Publication Date: 2024-12-11