The most anticipated recession in history may never occur. Despite facing a pessimistic outlook for over a year, the economy has proven resilient, and a soft landing seems to be in sight.
Yet, while it is becoming a real possibility that the U.S. Economy averts a technical recession this year and sees economic growth throughout 2024, that doesn’t mean there won’t be a bump in the road toward the end of 2023. Consumers will likely experience a short pullback in spending during the fourth quarter, followed by a rebound that will begin in the first half of next year.
As business leaders and FP&A teams build their forecasts and plans for next year, it is imperative to consider the evolving economic landscape, which may become more challenging before they improve, particularly around consumer spending.
Download this report to learn how consumers will most likely alter their spending habits in the end of 2023 and 2024 and the best approaches for building forecasts and business plans to maximize revenue despite these emerging challenging conditions.
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About Prevedere, Inc.
Prevedere is the world’s leading provider of predictive analytics technology and solutions based on econometric modeling, enabling intelligent enterprises to understand and quantify the impact of external factors as part of their strategic planning and forecasting. Our global data repository and patented AI platform enable financial executives and operational planners to identify market drivers, quantify the future impact of economic volatility, generate performance forecasts, and optimize plans based on market foresight.
Prevedere’s automated AI model monitoring provides an early warning system when unplanned market shifts and anomalies are predicted, enabling planners to future proof business performance. Many of the world’s leading consumer packaged goods, retail, logistics, and manufacturing companies leverage Prevedere to generate economic intelligence, spot market opportunities, mitigate risks, and deliver exclusive competitive advantage.