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Stock impact report

Citizens Business Conditions Index™ Drops in Q1

Citizens Financial Group, Inc. (CFG) 
Last citizens financial group, inc. earnings: 4/17 06:37 am Check Earnings Report
Company Research Source: Business Wire
Economic momentum cools as rates remain elevated PROVIDENCE, R.I.--(BUSINESS WIRE)--The national Citizens Business Conditions Index™ (CBCI) fell to 48.2 to start the year as business activity normalized from elevated levels in recent quarters. The reading below 50 indicates that economic momentum slowed during the first quarter against a backdrop of moderately restrictive monetary policy.Labor markets and consumer trends remained resilient in the first quarter. However, Citizens’ proprietary data showed softening revenue trends during the period after solid performance across most industries in the second half of 2023. New business applications also fell compared to the fourth quarter, though they remain well above pre-pandemic levels.“While the Index shows business conditions dipping in the first quarter, the overall U.S. economy remains fairly healthy,” said Eric Merlis, managing director and co-head of global markets at Citizens.The underlying components of the index reflected m Show less Read more
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