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Ticking up: Small business confidence rose slightly in November, with the NFIB optimism index climbing to 99.0 on stronger sales expectations, outperforming forecasts. However, hiring remains challenging, as labor quality is still the top concern. Meanwhile, inflation pressures and supply chain disruptions are growing and uncertainty over future investment has increased. Expectations for better business conditions declined despite plans to add jobs. Read more from The Wall Street Journal.
Recovery stalls: Commercial real estate’s recovery has stalled as high interest rates and economic uncertainty slow deal momentum. October marked the first year-over-year decline in transaction volume since early 2024, though sales remained active at $24.4 billion. Industrial and multifamily dominated top deals, while hotels were the only sector to post volume growth. Read more from CNBC.
Harder to track: Private consumer lending is rapidly shifting to less-visible private-credit channels, including buy now, pay later and fintech personal loans. With banks focusing on higher-credit borrowers, more consumers rely on these alternatives. But fragmented lending data makes it harder to spot risks or accurately gauge financial stress. Read more from The Wall Street Journal.
