In case prices for goods and services go up significantly in 2023, over 20 percent of consumers around the world said they would shop less in general and cut down on spending as a response. A fifth of survey respondents said they would look for and purchase cheaper and better value products. Less than five percent of those surveyed worldwide believed inflation would be unlikely to impact their habits. What does inflation look like? The world entered a new inflation crisis in 2021, driven by a confluence of factors including the COVID-19 pandemic which restricted global supply chains, and the Russian-Ukraine war which exacerbated food and energy shortages. In 2022, global inflation hit 8.71 percent, the highest annual increase in decades. The rate of inflation is estimated to remain high in the near future, at around 6.9 percent in 2023 and 5.8 percent in 2024. Inflation dominated the list of most important problems facing the world according to a survey conducted in October 2023 – leading ahead of poverty and social inequality, crime and violence, and unemployment. In a global consumer trends survey, the majority of respondents said that inflation impacted them completely or a lot – for instance, seven in 10 respondents in the United States admitted they had been seriously impacted. Inflation’s impact on the holidays The end-of-year holiday season is typically regarded as a period of increased retail spending, driven by a series of major shopping events such as Black Friday and Cyber Monday, as well as the public holidays Thanksgiving and Christmas. However, inflation has put a damper on the holiday cheer, with consumers expressing their intentions to cut back spending amid the cost-of-living crisis. In 2022, a significant share of consumers in Europe said they planned to cut at least some related expenses. In fact, 40 percent of respondents in the United Kingdom planned to cut all expenses related to Black Friday and Christmas.

Due to the recent wave of inflation, many consumers in the United States are cutting back on their usual spending habits, including their typical entertainment expenses. About four in ten surveyed U.S. consumers said they intended to reduce their spend at movie theatres. Around 30 percent of respondents also said they planned to spend less on concerts, sporting events, and going out at night.

Commercial leasing providers serve as lessors of buildings for nonresidential purposes. Industry participants include owner-lessors of nonresidential buildings, establishments that rent real estate and then act as lessors in subleasing it and establishments that provide full-service office space. Through the end of 2025, lessors have experienced mixed demand from critical downstream market segments. Since the onset of COVID-19, demand for office space has been volatile amid work-from-home and hybrid work arrangements. However, demand for industrial and retail spaces has risen, bolstered by gaining e-commerce sales and resilient consumer spending, buoying industry revenue. Over the past five years, industry revenue has climbed at a CAGR of 0.6% to reach $257.5 billion, including an estimated 0.7% gain in 2025. From 2020 to 2022, commercial leasing companies benefited from low interest rates, stimulating business expansion. However, in response to surging inflation, the Federal Reserve began raising interest rates in 2022 and continued into 2023. Rising interest rates translated into higher borrowing costs for tenants seeking new leases for their business operations. This can make expanding or relocating to a larger space more expensive. The industry benefited from three interest rate cuts in 2024. Industry profit remains high, reaching 51.6% of industry revenue in 2025. Industry revenue will climb at a CAGR of 2.6% to $292.9 billion through the end of 2030. Demand for office space will remain subdued over the next five years. However, a shortage of prime office spaces will elevate rent for Class A office buildings, benefiting lessors with those in their portfolios. Per capita disposable income growth and a continuation of climbing consumer spending will bolster demand for retail spaces, especially in suburban and Sun Belt markets. E-commerce sales will continue to power demand for industrial space as the percentage of e-commerce sales to total retail sales will mount.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

This analysis presents a rigorous exploration of financial data, incorporating a diverse range of statistical features. By providing a robust foundation, it facilitates advanced research and innovative modeling techniques within the field of finance.

Prudential Public - Next Dividend Cut Coming? (PUK)

Financial data:

• Historical daily stock prices (open, high, low, close, volume)

• Fundamental data (e.g., market capitalization, price to earnings P/E ratio, dividend yield, earnings per share EPS, price to earnings growth, debt-to-equity ratio, price-to-book ratio, current ratio, free cash flow, projected earnings growth, return on equity, dividend payout ratio, price to sales ratio, credit rating)

• Technical indicators (e.g., moving averages, RSI, MACD, average directional index, aroon oscillator, stochastic oscillator, on-balance volume, accumulation/distribution A/D line, parabolic SAR indicator, bollinger bands indicators, fibonacci, williams percent range, commodity channel index)

Machine learning features:

• Feature engineering based on financial data and technical indicators

• Sentiment analysis data from social media and news articles

• Macroeconomic data (e.g., GDP, unemployment rate, interest rates, consumer spending, building permits, consumer confidence, inflation, producer price index, money supply, home sales, retail sales, bond yields)

Potential Applications:

• Stock price prediction

• Portfolio optimization

• Algorithmic trading

• Market sentiment analysis

• Risk management

Use Cases:

• Researchers investigating the effectiveness of machine learning in stock market prediction

• Analysts developing quantitative trading Buy/Sell strategies

• Individuals interested in building their own stock market prediction models

• Students learning about machine learning and financial applications

Additional Notes:

• The dataset may include different levels of granularity (e.g., daily, hourly)

• Data cleaning and preprocessing are essential before model training

• Regular updates are recommended to maintain the accuracy and relevance of the data

US loan brokers enjoyed significant revenue growth through much of the five years to 2024 as interest rates hit record lows in the early years and consumer confidence soared. Interest rates have remained artificially low since the 2008 global financial crisis. Low interest rates offered in the period and increased consumer spending spurred demand for mortgage and nonmortgage loan brokerage services, resulting in a surge in revenue of 33.8% in 2020 alone. These interest rates have steadily risen after the pandemic, bringing back a compressed lending environment in the latter half of the period. However, interest rates were cut in 2024, with additional rate cuts expected. Loan brokers also continue to contend with educated consumers attracted to the easy lending processes popularized by online lenders. Overall, industry revenue is set to increase at a CAGR of 12.5% to $26.6 billion over the five years to 2024. In 2024, revenue will climb by 2.1% as interest rate cuts increase mortgage demand. Loan originations for new homes and remodeling skyrocketed despite the adverse macroeconomic effects of the pandemic. Low interest rates and stay-at-home restrictions initially encouraged consumers to take on new loans, even amid a skeptical economic outlook. Since loan brokers generate revenue through commission or on a fee basis, the increase in loan originations contributed to revenue generation and profit, measured as earnings before interest and taxes. Profit has been under pressure as industry wages have begun to outpace revenue growth. As this trend continues into the outlook period, profit will be constrained. Revenue for loan brokers is set to grow at a CAGR of 2.8% to $30.5 billion over the five years to 2029. Rekindling consumer confidence and greater access to credit will be the predominant drivers of industry growth over the coming years. In addition, the growth rate will climb as the Federal Reserve is anticipated to make further rate cuts at the onset of the outlook period. Demand for new loans will be strong, with the lending market being accommodating by historical standards.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

The inflation rate in the United States is expected to decrease to 2.1 percent by 2029. 2022 saw a year of exceptionally high inflation, reaching eight percent for the year. The data represents U.S. city averages. The base period was 1982-84. In economics, the inflation rate is a measurement of inflation, the rate of increase of a price index (in this case: consumer price index). It is the percentage rate of change in prices level over time. The rate of decrease in the purchasing power of money is approximately equal. According to the forecast, prices will increase by 2.9 percent in 2024. The annual inflation rate for previous years can be found here and the consumer price index for all urban consumers here. The monthly inflation rate for the United States can also be accessed here. Inflation in the U.S.Inflation is a term used to describe a general rise in the price of goods and services in an economy over a given period of time. Inflation in the United States is calculated using the consumer price index (CPI). The consumer price index is a measure of change in the price level of a preselected market basket of consumer goods and services purchased by households. This forecast of U.S. inflation was prepared by the International Monetary Fund. They project that inflation will stay higher than average throughout 2023, followed by a decrease to around roughly two percent annual rise in the general level of prices until 2028. Considering the annual inflation rate in the United States in 2021, a two percent inflation rate is a very moderate projection. The 2022 spike in inflation in the United States and worldwide is due to a variety of factors that have put constraints on various aspects of the economy. These factors include COVID-19 pandemic spending and supply-chain constraints, disruptions due to the war in Ukraine, and pandemic related changes in the labor force. Although the moderate inflation of prices between two and three percent is considered normal in a modern economy, countries’ central banks try to prevent severe inflation and deflation to keep the growth of prices to a minimum. Severe inflation is considered dangerous to a country’s economy because it can rapidly diminish the population’s purchasing power and thus damage the GDP .

According to a survey conducted between July 9 and July 11, 2022, 45 percent of Americans thought that Joe Biden was highly responsible for the current trend in the inflation rate. This is compared to 26 percent of Americans who said President Biden did not have a lot of responsibility for the current inflation rate.

Inflation in the U.S. Global events in 2022 had a significant impact on the United States. Inflation rose from 1.4 percent in January 2021 to 9.1 percent in June 2022. Significantly higher prices of basic goods led to increased concern over the state of the economy, and the ability to cover increasing monthly costs with the same income. Low interest rates, COVID-19-related supply constraints, corporate profiteering, and strong consumer spending had already put pressure on prices before Russia’s invasion of Ukraine in February 2022. Despite rising wages on paper, the rapid growth of consumer prices resulted in an overall decline in real hourly earnings in the first half of 2022.

How much control does Joe Biden have over inflation? The bulk of economic performance and the inflation rate is determined by factors outside the President’s direct control, but U.S. presidents are often held accountable for it. Some of those factors are market forces, private business, productivity growth, the state of the global economy, and policies of the Federal Reserve. Although high-spending decisions such as the 2021 COVID-19 relief bill may have contributed to rising inflation rates, the bill has been seen by economists as a necessary intervention for preventing a recession at the time, as well as being of significant importance to low-income workers impacted by the pandemic.

The most important tool for curbing inflation and controlling the U.S. economy is the Federal Reserve. The Reserve has the ability to set, raise, and lower interest rates and determine the wider monetary policy for the United States – something out of the president’s control. In June 2022, the Reserve announced it would raise interest rates 0.75 percent for the second time that year – hoisting the rate to a target range of 2.25 to 2.5 percent – in an attempt to slow consumer demand and balance demand with supply. However, it can often take time before the impacts of interventions by the Federal Reserve are seen in the public’s day-to-day lives. Most economists expect this wave of inflation to pass in a year to 18 months.

The Kitchen and Diningware Wholesaling industry has experienced dynamic developments over the last few years. Pandemic lockdowns resulted in heightened demand for home improvements, including kitchenware and diningware, stimulating an increase in retail sales, which led to a surge in orders for wholesalers. The pandemic also expedited a move towards online shopping, presenting wholesalers with new opportunities to reach consumers. Even so, the industry has been negatively impacted by the wholesale bypass trend, which has undermined the traditional role of wholesalers as retailers seek direct relations with manufacturers. A slump in residential housing construction, rising purchase costs and a cost-of-living crisis curtailing downstream consumer spending on kitchen and diningware have also hampered industry revenue and profitability. Many wholesalers have sought to offset this by focusing on the sale of premium items. The challenging circumstances have resulted in business closures and reduced industry employment. Overall, revenue is expected to creep upwards at an annualised 0.6% over the five years through 2024-25, to an estimated $3.5 billion. This includes an estimated dip of 2.6% in the current year. Over the coming years, kitchen and diningware wholesalers are poised to benefit from positive downstream shifts in consumer demand, driven by an increase in residential building construction in response to population growth and heightened activity in the property market following interest rate cuts. Higher disposable income and improved consumer sentiment are also set to spur retail spending on homeware products, a trend that will pass down to wholesalers through demand from retail buyers. Manufacturers and retailers will continue to shape the industry's future. Wholesalers will need innovative strategies to retain their consumer base and avoid wholesale bypass. The contraction in industry enterprise and establishment numbers is set to persist, constraining revenue growth but also providing opportunities for some wholesalers to secure a larger market share. Overall, industry revenue is forecast to climb at an annualised 1.1% through the end of 2029-30, to $3.7 billion.

Between January 1971 and March 2024, gold had average annual returns of 7.98 percent, which was only slightly behind the return of commodities, with an annual average of eight percent. The annual average return of gold in 2023 was 13.1 percent. What is the total global demand for gold? The global demand for gold remains robust owing to its historical importance, financial stability, and cultural appeal. During economic uncertainty, investors look for a safe haven, while emerging markets fuel jewelry demand. A distinct contrast transpired during COVID-19, when the global demand for gold experienced a sharp decline in 2020 owing to a reduction in consumer spending. However, the subsequent years saw an increase in demand for the precious metal. How much gold is produced worldwide? The production of gold depends mainly on geological formations, market demand, and the cost of production. These factors have a significant impact on the discovery, extraction, and economic viability of gold mining operations worldwide. In 2024, the worldwide production of gold was expected to reach 124 million ounces, and it is anticipated that the rate of growth will increase as exploration technologies improve, gold prices rise, and mining practices improve.

In December 2024, the personal saving rate in the United States amounted to 3.8 percent. That was slightly lower figure than a year earlier. The personal saving rate is calculated as the ratio of personal savings to disposable personal income. Within the topic of personal savings in the U.S., there are different goals and reasons for saving. What are personal savings? Saving refers to strategies of accumulating capital for future use by either not spending a part of one’s income or cutting down on certain costs. Saved money may be preserved as cash, put on a deposit account, or invested in various financial instruments. Investing usually incorporates some level of risk which means that part of the invested money can be gone. An example of a relatively safe investment would be saving bonds, such as the debt securities issued by the U.S. Department of the Treasury. Saving trends in the U.S. and abroad Looking at the personal saving rate in the United States throughout the past decades, it can be observed that savings had been decreasing until the mid-2000s, and they increased after the 2008 financial crisis. Still, the largest savings rates were reached in 2020 and 2021. The reason for that increase in the savings rate that year might be related to the measures to contain the COVID-19 pandemic. The value of personal savings in the United Kingdom has also followed a similar trend. Although events like the COVID-19 pandemic may have affect many countries in a similar way, the ability to save, as well as the average savings as a share of personal income across countries can vary significantly depending on multiple factors affecting each territory.

Auto leasing, loans and sales financing is comprised of establishments that provide sales financing or leasing in combination with sales financing for automobiles. During the period, growth in consumer spending drove demand for these services, while a rising prime rate drove up the cost of (and therefore revenue generated by) industry services, resulting in revenue growth. The industry experienced declines in revenue at the onset of the period as it faced depressed consumer demand and a lower prime rate due to the pandemic. The industry returned to growth in 2023 as consumer spending climbed and the prime rate was raised to combat inflation. Key economic indicators, particularly strong demand to replace aging vehicles, boded well for financiers over the past couple of years. The economic downturn at the onset of the period caused consumers to postpone large capital purchases like automobiles, which reduced demand for industry services in the same year. Revenue rebounded in 2023 as access to credit climbed. Higher interest rates in the latter part of the period limited the growth in demand for auto loans. Although in 2024, the Fed cut interest rates as inflationary pressures eased, which will boost loan demand for automobiles. In addition, the Fed is anticipated to cut rates further in 2025 which will further boost demand for automobile loans. Overall, over the past five years, industry revenue has grown at a CAGR of 2.1% to reach $172.0 billion, including a 1.5% decline in 2025 alone. Industry profit has declined over the past five years and will account for 23.9% of revenue in 2025. Growth at the onset of the outlook period will likely be limited. The Federal Reserve is anticipated to cut rates further in the latter part of the period as inflationary pressures continue to ease. Lower interest rates will provide a boost for industry services as demand for new auto loans and leases is expected to jump. In addition, the improving economic trends in access to credit, consumer confidence and rising levels of disposable income levels will provide a boost to industry revenue as consumers will be better able to afford higher-priced automobiles and new cars. Overall, industry revenue is expected to climb at a CAGR of 1.5% to $185.0 billion over the five years to 2030.

European furniture manufacturing revenue is slated to contract at a compound annual rate of 4.6% over the five years through 2024. Weak economic conditions, initially stemming from the COVID-19 pandemic but then worsened by the cost-of-living crisis, has weakened demand for new construction projects, reducing the number of new spaces that require furnishing. While builders saw a post pandemic boom in renovation activity, inflationary pressures weakened disposable incomes and caused people to cut their discretionary spending, limiting furniture purchases. Businesses have increasingly preserved cash and opted to postpone or cancel significant construction projects, especially after interest rates were hiked to help combat soaring inflation, causing the cost of borrowing to spike. In 2024, revenue is expected to dip by a further 3.7% to €49.3 billion. Sales to construction companies will continue to suffer, as high interest rates have led to many would-be home buyers being priced out of the market. This has weakened demand for new houses and led to property developers reducing output. At the same time, business and consumer confidence remains weak. Low consumer spending will also hinder demand from businesses like retailers and service providers (e.g. hotels and restaurants), as these businesses see demand for their own services fall as consumers cut back, slashing their own spending budgets. Over the five years through 2029, revenue is forecast to expand at a compound annual rate of 2% to reach €164.5 billion. Economic conditions will improve as inflation eases, prompting central banks to lower interest rates. As interest rates fall, the cost of borrowing will follow suit, driving up the number of people meeting the affordability criteria for mortgages and spurring new construction activity from housebuilders, which will create a greater need for new furniture. Businesses will also be more likely to undertake significant construction projects and buy new furniture, creating more revenue opportunities for furniture makers.

In 2023, personal savings amounted to 4.51 percent of the disposable income in the United States. The personal savings rate peaked in 2020, when U.S. households saved on average over 15 percent of their income. That year and in 2021, there were measures implemented to contain the spread of the COVID-19 virus which limited the ability of people to go out and spend their money, which resulted in people saving more than usual.

Savings during recessions During recessions, households often tend to increase their savings due to economic uncertainty and to compensate for any possible loss of income, which could occur, for example, in the case of falling into unemployment. For example, as seen in this statistic, the savings rate increased noticeably between 2007 and 2012, coinciding with a period of crisis. However, there are also factors that affect the amount of money that households can manage to set aside, such as inflation. Saving can be particularly difficult during periods when the inflation rate has been higher than the growth rates of wages.

Savings accounts The value of savings deposits and other checkable deposits in the U.S. amounted to roughly 11 trillion U.S. dollars in late 2023, even after a significant fall in the amount of money placed in those types of instruments. In other words, savings accounts are a type of financial asset that is very widely used among households to save money. Nevertheless, interest rates of savings’ accounts differ a lot from one financial institution to another. Some of the lesser-known online banks had the highest interest rates, while the major banks often offered lower interest rates.

The high interest rate environment experienced over the five years to 2025, along with overall economic growth, has benefitted the Commercial Banking industry in Canada. Banks have done an exceptional job diversifying revenue streams, due to higher interest rates and increasing regulations. The industry primarily generates revenue through interest income sources, such as business loans and mortgages, but it also generates income through noninterest sources, which include fees on a variety of services and commissions. Industry revenue has been growing at a CAGR of 13.9% to $490.4 billion over the past five years, with an expected decrease of 0.3% in 2025 alone. In addition, profit, measured as earnings before interest and taxes, is anticipated to climb throughout 2025 due to the decreased provisions for credit losses (PCL). Industry revenue generated by interest income sources depends on demand for loans by consumers and the interest banks can charge on that capital it lends out. Therefore, high interest rates have enabled banks to increasingly charge for loans. However, the recent rate cuts in the latter part of the period have limited the price banks can charge for loans, hindering the interest income from these loans, although, with lower rates, commercial banks are anticipated to encounter growing loan volumes. Also, technological innovations have disrupted traditional banking features. The growing trends of online and mobile banking have increased customer engagement and loyalty, which has further aided the industry's expansion. Over the five years to 2030, projected interest rate declines and improvements in corporate profit are still anticipated to boost interest income from lending products. However, the remarkable debt levels of Canadian households make it increasingly likely that a period of deleveraging will begin over the next five years. Quicker growth rates in household debt and consumer spending are expected to increase interest income. In addition, improving macroeconomic conditions, such as unemployment and private investment, are expected to further boost revenue. Nonetheless, industry revenue is forecast to grow at a CAGR of 1.7% to $532.5 billion over the five years to 2030.

Industrial machinery and equipment wholesalers sell various products to several downstream markets. Revenue for machinery and equipment wholesalers is closely tied to macroeconomic conditions. Over the past five years, revenue has faced notable volatility but posted overall growth due to the boom in investment spending by companies following the pandemic. Industry revenue is estimated to rise at a CAGR of 0.4% to $321.0 billion through the end of 2024, with growth of 2.9% forecast for the current year. Early on, high corporate profit and low interest rates enabled companies to invest in new industrial equipment and accelerate production levels. The pandemic initially weighed on key markets as consumer spending declined and caused a drop in business for wholesalers. The eventual release of pent-up demand across the economy helped encourage spending on fixed assets supplied by the industry. For example, elevated oil and gas prices boosted demand for equipment from energy suppliers across the country. Higher interest rates in response to inflation eventually dampened spending on equipment and machinery. Unexpected resilience across the economy and the prospect of interest rate cuts have helped further support industry wholesaling activity in 2024. Over the next five years, demand for machinery and equipment will continue trending upward. The industry's exposure to commodity prices makes it vulnerable to intense volatility, and wholesalers with reliable distribution networks are expected to outperform less well-established suppliers. Ensuring quick delivery times will remain key for competitive wholesaling businesses. Successful businesses will also continue to invest in communications technology to help improve their operations. Industry revenue is expected to climb at a CAGR of 2.3% to an estimated $360.0 billion through the end of 2029.

During the current period, tax preparation companies have navigated fluctuating economic conditions with varying success. The onset of COVID-19 triggered a decline in corporate profit, leading many businesses to cut back on outsourced tax services. Such financial pullbacks resulted in a dip in revenue, as companies either opted to utilize in-house tax teams or neglected additional tax services entirely. Regardless, as vaccination rollouts facilitated reopening economies in 2021, consumer spending soared, revitalizing corporate profit and demand for external tax preparers from individuals and businesses. Rising unemployment due to the cooling labor market brought on by high interest rates has recently reduced the number of taxpayers who can afford the industry’s services, causing revenue to slump in 2024. Overall, revenue for tax preparation service companies has grown at a CAGR of 2.9% over the past five years, reaching $14.5 billion in 2025. This includes a 0.9% rise in revenue in that year. Technological advancements have significantly transformed the tax preparation landscape. The advent and integration of artificial intelligence (AI) have streamlined processes, enhancing the efficiency of tax service providers. Specifically, AI-driven software has reduced time spent on tax preparation by automating data analysis, thereby enabling tax professionals to pivot toward more value-added services such as tax planning and customer relationship management. Over time, this will reduce wage costs and boost profit. Despite these advancements, there's been a notable rise in electronic filing, posing a threat to traditional tax preparers as more software companies market user-friendly tax solutions directly to consumers. However, major companies have adapted by incorporating these technological tools into their offerings, aiming to provide more comprehensive services. Looking ahead, tax preparation businesses are poised to experience moderate growth amid shifting economic conditions. As the US economy is expected to rebound gradually from current financial challenges, GDP and disposable income are projected to grow, fostering demand for professional tax services. Yet, ongoing competition from digital solutions, coupled with potential changes in tax legislation under the new administration, could shape the industry's trajectory. Overall, revenue for tax preparation service businesses in the US is forecast to creep upward at a CAGR of 1.1% in the next five years, reaching $15.3 billion in 2030.