In October, NACM CS celebrated a robust and prosperous relationship with Experian while attending the annual Experian Partner Advisory Council meeting. Our expertise in credit solutions was highlighted among those who attended. We collaborated on future Experian initiatives, heard from industry experts, and provided insights in the markets we serve. Experian has been a good partner to NACM CS members, and we look forward to sharing our expertise with all of you in the coming year.
The Western Credit Conference in San Diego was a long time coming after our original plans in 2020 had to be cancelled. Thank you to all the sponsor and members for attending. We had people attend from all over CA, OR, MT, CO, WA, and UT. We had the best time hanging out with some fun, sun, sand, and of course education.
Next years conference will be in Salt Lake City, Utah. Look forward for more information coming on that in 2023.… Read the rest
The NACM Commercial Services Foundation is an organization promoting educational resources to the credit industry. Fundraisers such as this tournament allow us to offer educational scholarships to employees within your company and others looking for business credit education. We appreciate all our sponsors of this event and those who come out and Golf. It is always a beautiful location and time at the The Coeur d’Alene Resort Golf Course.
The NACM Commercial Services team went on three different outings this summer. The Portland office went Axe throwing, Spokane went to a baseball game, and San Diego went on the Bahia Belle and dinner. We wanted to share in our fun with all of you. Thank you for being our members and letting us do what we do.
As Russian gas supply is coming to a halt, the fight against inflation is raging and political uncertainties coalesce, our previous adverse scenario has become reality. The trifecta of lower growth, higher inflation and higher rates will hit even harder. We expect global growth to slip into negative territory in Q4 (-0.1% q/q), followed by a slow recovery at +1.5% in 2023. Consumer sentiment has already plunged to record lows and business confidence continues to deteriorate rapidly, which will hold back consumption and investment.
Eurozone growth is likely to plunge to -0.8% in 2023 due to soaring energy prices and negative confidence effects. Increased fiscal support to the tune of 2.5% of GDP on average and limited monetary easing after mid-2023 will help make the recession shorter and shallower, and limit the risks of social unrest.