Despite higher interest rates, the Canadian economy is exceeding expectations and has dodged the predicted 2023 recession. Real GDP at basic prices grew 0.6% in January (7.4% annualized), and preliminary estimates pointed to 0.4% growth in February (4.9% annualized). This suggests that growth in the first quarter of 2024 is on track for around 3.5%, according to data from Statistics Canada.

💻 Customer payment portals have evolved in the last few decades with the growth of automation—playing a paramount role of processes in the B2B credit world.

In today’s climate, being “eco-friendly” may just be an ethical façade. Greenwashing—a term coined in the 1980’s—is the act of claiming environmental credentials for a product or project that are unjustified or untrue. Its purpose is to create an impression among both existing and potential customers that the business carries out environmentally friendly activities, when in reality, it is just a cover up.

During this Mental Health Awareness Month, we are exploring how credit managers can feel happy and fulfilled in their careers. Happiness is not merely a byproduct of success but a powerful catalyst for it. Credit managers must cultivate a positive mindset to find the true purpose of their role.

The March consumer price index (CPI) showed a 3.5% increase compared to March 2023—while the probability of a June rate cut has quickly plunged from 56% to 17%. Though March’s inflation reading was significantly down from the pandemic-era peak in 2022 (the highest level since 1981), it remains above the Fed’s overall target of 2%.

For much of the last year, advocates in DC have acknowledged that a comprehensive Farm Bill reauthorization, which includes a wide array of programs such as crop insurance, farm subsidies, forestry, rural housing and infrastructure, and nutrition programs like SNAP (formerly known as food stamps), was highly unlikely to pass in this cycle’s deeply divided Congress, especially given the narrow majority held by Republicans in the House.

Credit professionals must consistently learn to advance their careers, whether through on-the-job training and experience or formal education, supported by their company’s assistance. By earning designations through NACM’s Professional Certification Program, credit professionals can learn and enhance their skillset in various aspects of B2B credit.

NACM’s Professional Certification Program is geared toward all credit professionals—no matter where they are in their career. Whether just learning the ropes or a seasoned credit manager, refreshing your mind is always an option.

The outlook for Asia and the Pacific in 2024 has brightened: we now expect that the region’s economy will slow less than we previously projected as inflation pressures continue to dissipate.