Examination and findings on economic leading indicators
The second in the series: CXO Business Insights Report: New Consumer Behaviors Driving Change in Business Planning Presented in partnership with Patrick Slattery, founder and Managing Director at Canopach and Prevedere.
***
June data indicates that confidence has rebounded slightly from May, but it’s still lower than we like to see for a full-powered economic recovery.
It’s an uncertain time for businesses as the U.S. considers a steadily increasing number of COVID-19 cases causing increasing quarantine restrictions. Economic recovery in the U.S. largely hinges on positive consumer sentiment and how fast we recover as a nation.
In their recent report, Mr. Andrew Duguay, Prevedere’s Chief Economist and Patrick Slattery, Founder and Managing Director at Canopach, discuss the current consumer mindset and how businesses can insulate and plan strategically. From the response to recovery phases, companies need to meet consumers where they are, be nimble in their response, and recognize that it will take many quarters to recover from the economic damage.
Highlights include:
- Consumer confidence gap narrows among income segments
- Applying ‘The Right of Bang’ theory to the current U.S. recession
- How companies behave during the response, what to expect in the recovery phases
***
Patrick Slattery – Founder and Managing Director, Canopach
Patrick Slattery is the founder and managing director at Canopach, a CFO advisory firm in New York. Patrick has over 20 years of experience in leading and envisioning finance transformation initiatives, having worked as a partner at KPMG and Deloitte and as managing director at the Hackett Group. Patrick is also an adjunct professor at the Fordham University Graduate School and a Board Member of Infragard in New York, serving to raise awareness and increase protection of critical infrastructure.
Andrew Duguay – Chief Economist, Prevedere, Inc.
Mr. Duguay is a Chief Economist for Prevedere, a predictive analytics company that helps provides business leaders a real-time insight into their company’s future performance. Prior to his role at Prevedere, Andrew was a Senior Economist at ITR Economics. Andrew’s commentary and expertise have been featured in NPR, Reuters, and other publications. Andrew has an MBA and a degree in Economics. He has received a Certificate in Professional Forecasting from the Institute for Business Forecasting and Certificates in Economic Measurement, Applied Econometrics, and Time-Series Analysis and Forecasting from the National Association for Business Economics.
About Prevedere, Inc.
Prevedere is a predictive analytics software company that delivers insights into future business outcomes based on current economic trends. Our predictive economic intelligence helps executives see what lies ahead for their business and solve for upcoming risks and opportunities. Our SaaS solutions apply the power of machine learning and predictive modeling to more than 2.5 million indicators of global economic and consumer activity. Prevedere customers include Fortune 500 industry leaders in retail, manufacturing, and consumer packaged goods. To learn more, visit www.prevedere.comand follow @Prevedere on Twitter.