Banking business intelligence software: How credit unions can gain a competitive advantage

With an uncertain economic outlook, credit unions need data to determine what their members are experiencing. Economists are optimistic and pessimistic. Those fearing an economic downturn focus on:

– Lower housing prices
– Decreased investment valuation
– Shrinking savings
– Weaker labor market

They see these factors as the harbinger of a recession.

Analysts on the positive side believe consumers will continue to spend excess cash from stimulus checks and higher wages. Businesses with solid balance sheets will stumble through a period of low economic growth, but the US economy will narrowly escape a recession.

 

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