Q2 2023 Experian/Oxford Economics Main Street Report

Document: Published Aug 29, 2023

Lenders are tightening underwriting criteria due to high delinquencies among consumers and small businesses amid inflation. People are revising their spending and investment plans. While technology companies thrive, sectors like logistics, utilities, and healthcare face challenges. Supply chain issues are easing, but reduced demand affects inventory orders, impacting trucking and logistics with lower tonnage and mileage. Consumers show resilience, bolstered by a strong job market, wage growth, and lower energy and food costs. However, dwindling savings and increased reliance on unsecured debt, along with the resumption of debt obligations like student loans, and ongoing inflation, put pressure on consumers. Recession fears are easing, but concerns for 2024 remain.

Related Resources

  • Summer 2023 Beyond the Trends Report
    Document Published Date: Published Jul 21, 2023

    The Summer 2023 report contains several insights on the economic landscape impacting small businesses, among them — rising delinquencies being a significant concern. The latest report emphasizes the need for strategic planning and careful management of debt, along with an understanding of broader economic factors that may impact small business performance.

    Subscribe to this quarterly report here or follow our full suite of quarterly insights on our Commercial Insights Hub.

  • Beyond The Trends Spring 2023
    Document Published Date: Published Mar 28, 2023

    The Spring report contains several insights on small business performance including - delinquencies are rising for small businesses across regions and products, and businesses are making decisions about how they repay debt. The economy will slow in 2023, and consumer and small business credit health and spending behavior will adjust to the new reality. Cashflows will be tested in industry segments focused on home-based work/life as the labor force returns to the office, but some businesses require hybrid work schedules to encourage collaboration and a more connected work environment.

    Subscribe to this quarterly report here or follow our full suite of quarterly insights on our Commercial Insights Hub.

  • Beyond The Trends - Winter 2022
    Document Published Date: Published Jan 19, 2023

    Small businesses are struggling to access inventory, components, and staff due to the pandemic's impact on the supply chain. However, emerging small business growth has been explosive during the pandemic, with businesses adapting to the high demand, low supply market by focusing on digital experiences. Small businesses are also focusing on diversity, equity, and inclusion initiatives to create a more inclusive small business ecosystem. Subscribe to this quarterly report here or follow our full suite of quarterly insights on our Commercial Insights Hub.

  • Beyond The Trends - Fall 2022
    Infographics Uploaded Date: Published Sep 30, 2022

    The Fall 2022 Beyond The Trends report focuses on the retail industry and small business strategies. Key points include: 1) Lenders tightening credit criteria, affecting small business loan availability. 2) With declining consumer demand, businesses must prioritize repayments, and lenders need to plan for delinquent accounts. 3) Retailers can attract consumers during the 2022 holiday season by providing personalized experiences, utilizing social media, and optimizing their online presence. Subscribe to this quarterly report here or follow our full suite of quarterly insights on our Commercial Insights Hub.

Experian and the Experian marks used herein are service marks or registered trademarks of Experian Informations Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.