Construction Workforce Shortages Pose Risk to Infrastructure Projects

Construction workforce shortages undermine the industry's ability to complete projects on schedule and threaten the success of new federal investments in infrastructure and manufacturing, according to data from the Associated General Contractors of America (AGC) and Autodesk."Construction workforce shortages are severe and having a significant impa...
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3 Trends in B2B Credit: Podcast

 ⭐ This week's episode of NACM's Extra Credit podcast hits 3️⃣ major trends in the B2B credit world!1. The manufacturing sector is indicating recession conditions, according to the latest CMI report. Hear from Amy Crews Cutts;2. Commercial bankruptcy lawyers discuss the latest trends. Hear from Sharon Beausoleil;3. and how to make an argu...
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Eurozone Inflation Hits 9.1% Record High in August

Inflation hit a new record of 9.1% this month in European countries that use the euro currency. Economists say this is caused by a sharp rise in energy prices due to the Russia-Ukraine war. Annual inflation in the eurozone's 19 countries rose from 8.9% to 9.1% in just one month from July to August, according to the European Union statistics agency ...
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Corporate Profit Margins Widen Despite Inflation

U.S. corporate profit margins grew in Q2 to the widest in 72 years, according to Wells Fargo. They found that nominal profits for GDP rose 6.1% (not annualized) during the quarter on a pre-tax basis, "the fastest pace in a year." Not only that, the $175 billion gain in profits in Q2, "lifted overall corporate profits to a record $3.0 trillion."Furt...
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Motivate Your Credit Department with Metrics: Podcast

What you do with the findings of metrics is as important as the metrics themselves. Several credit leaders in this week's episode of the Extra Credit podcast choose to use the results as a way to motivate their staff, whether it be with cash or the option the work from home. 
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72% of Economists Warn of a Recession in 2023

All eyes are on the Federal Reserve as it fights the worst inflation in four decades with aggressive interest rate hikes. Most economists (73%) expect the Fed to be unsuccessful in taming inflation in the next two years without triggering a recession, according to the National Association for Business Economics (NABE). 72% predict a recession by th...
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Inflation Reduction Act Targets Climate Change, Health Care Costs, Taxes

President Joe Biden signed on Tuesday the Inflation Reduction Act into law, which aims to lower health care costs and raise taxes on corporations. The law includes $369 billion for climate and energy policies; $64 billion to reduce health insurance costs; and a minimum 15% corporate tax rate for companies that earn more than $1 billion a year."The ...
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Natural Disasters are a Double-Edged Sword for Construction: Extra Credit

? This week's episode of the Extra Credit #podcast is all about the construction industry! Listen here.  ? As severe weather events become more common, the construction industry will play a pivotal role in disaster preparedness and recovery. But with more opportunity comes more risk.⭐ Be sure to share with all your construction credit fri...
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Inflation Rates Slow Across the US

Kendall Payton, editorial associateThe consumer price index (CPI) rose 8.5% in July, compared to a 9.1% year-over-year increase in June. The drop in gas prices is a notable indicator of slowing inflation, but rates continue to increase among food and energy prices. The food index has increased 10.9% in the past year, the fastest pace since May 1979...
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New Extra Credit Podcast Episode is Available Now!

Stop what you're doing (or keep doing what you're doing) and listen to the first Extra Credit #podcast episode of August!This week's episode covers two important topics--a circuit court decision regarding the new value defense AND an update on sanctions against Russia.⭐ Hear from our expert guests, Bruce S. Nathan; Mike Papandrea; and Lizbeth Rodri...
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China Blocks Some Trade with Taiwan After Pelosi Visit

China suspended some trade with Taiwan in retaliation for hosting a visit with U.S. House Speaker Nancy Pelosi. China blocked imports of some fruits and fish from Taiwan, and exports of natural sand to the island, according to CNN."China is Taiwan's largest trading partner, with bilateral trade worth $273 billion last year, accounting for 33% of th...
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Shipping Costs Rise Even as Demand Drops

Although consumer demand is starting to soften, shipping prices are bolstered by container shortages and port congestion, said Lori Ann LaRocco, CNBC senior editor, during a news report. "East Coast [port] congestion has created a floor in prices at around the $9,000 range," she said. "Because congestion takes boxes out of the supply for future use...
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Are We Closer to a Recession? Extra Credit

? The July Credit Manager's Index shows weakness in the U.S. economy, but does it spell recession? Listen to this week's episode of NACM's Extra Credit podcast to find out! ? Hear from Amy Crews Cutts; Cody Christensen; and Chris Myers on a variety of topics ... including virtual onboarding and using metrics to improve the efficiency of e...
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Senate Passes Bill Aimed at Boosting US Semiconductor Production

The U.S. Senate voted 64-33 today to pass a bill, known as the CHIPS act, aimed at boosting domestic semiconductor production. The bill now goes to the House for approval before it can be signed by President Joe Biden. "These investments will go a long way in reversing the decline in federal [research and development] that has dropped threefold sin...
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Another Large Rate Hike Expected as US Inflation Climbs

Inflation reached a new 40-year high last month, a sign that demand is still hot. But other signs show the U.S. economy slowing—putting the Federal Reserve into a tricky situation. The Fed is expected to raise interest rates another 0.75% tomorrow, according to The Wall Street Journal. "They have increased rates at a historically rapid pace this ye...
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Listen to the Latest Episode of Extra Credit!

 ⭐ There's some truth behind the old adage--teamwork makes the dream work! 29% of credit professionals want more cross-functional training within their company and departments.? Listen to this week's episode of our Extra Credit #podcast to learn how collaboration across departments can benefit credit and collections.
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Diesel Prices Trend Downward for Fourth Week

The national average for a gallon of diesel fell 13.6 cents to $5.432, the fourth straight week costs have dropped, according to the U.S. Energy Information Administration. "Demand has plummeted in anticipation of a recession, in addition to fewer consumers traveling than normal for the July holidays," reads an article from FleetOwner. "National cr...
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New Immigration Bill Could Help Lower Food Costs

The U.S. Senate is working to a close a deal on an immigration bill called the Farm Workforce Modernization Act, which famers say could help them hire more workers, thus reducing food costs, NPR reported. The bill is focused mostly on "updating the food production workforce, a system some call outdated and that has led to higher food prices especia...
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Training Future Credit Leaders: Extra Credit

? Did you know ... 46% of credit professionals describe their department's onboarding process as meticulously detailed and documented, while 27% describe it as learning on the fly or loosely documented. ⭐ The onboarding process is one of the first steps in building future credit leaders! Listen to this week's episode of Extra Credit ? to hear ...
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Inflation Surges to New Record in June

U.S. inflation reached another 40-year high in June as gas, food and rent costs continues to climb. Prices increased 9.1% year over year, up from 8.6% in May, and surpassing the estimates of many economists who thought inflation peaked."There may be some relief in the July numbers—commodity prices have come off the boil, at least—but...
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