Long on Pessimism

Lenders don't expect the economy and unemployment to improve before next year, according to a new survey

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Nearly two-thirds of commercial lenders don't expect the economy to improve until sometime next year, and more than 90% expect loan losses, unemployment, and bankruptcies to increase in the next six months. Given their pessimistic outlook, 70% expect lending to small businesses, especially startups, will decrease for the rest of the year.

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