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Doubt about it small business is a big driver of economic growth and employs about half of the nation's private sector workforce.
In -- frankly most of the nation's new jobs so what's the state of small business.
William failing as the president -- that a company that tracks billions of dollars in small business loans.
And you reported not too long ago that your lending index jumped in October about 20%.
It's been piling on double digit growth for some time now.
Is there something going on what's going on out there with small business through.
It's -- -- economic borders what's going out there there's a lot of underlying strength which -- not been reported in the of every day market indices.
And you -- -- nordic go to look for growth in this market are -- small business is getting loans.
They are getting loans and actually with a 20% increase just last month we're actually seen.
A big jump up in loans and capital for small businesses.
That was -- fifteenth consecutive double digit increase over the over the the index of.
Currently available -- -- -- hear the story being just the opposite the small business.
They're not getting along say neither had a hard time with the economy with the regulations but in fact when you really dig down -- they're making it happen.
-- -- about some of the sectors inside small business 'cause you can do this better than anybody because your company scenes data as such a granular level you can really tell what sectors of small business.
Are piling in on let's start with construction house construction doing.
Both pretty surprising that would have been dubbed the believe -- -- nine not seen the data what I told me was a construction actually is up 20% on year over year basis so.
We're getting some growth in construction are starting to invest again they're putting more capital to work in the business and that was really surprising -- -- the data.
I was excited to see that investment in capital expenditures by these small businesses.
Right in what I told CEOs that are manufacturing summit this morning was that there's growth coming back to love the manufacturing sector in America.
Trucking was up 19%.
On a year over year basis and even some of these sub sectors like -- specialty contractors.
Are actually starting to show some improvement with -- -- contract well these are the plumbers electricians.
These are the are carpenters and they've been hit hardest it was really into a depression for them.
And what they've seen is some investments start to come back into the business so started to put them.
When you work yeah that's very positive.
It was a story in the Wall Street Journal today that it up farmers their business on fire you see it with a small business -- we are absolutely that was the number one -- year over year so there's more capital go into the into the act production sector than any other sector in the in the country.
What's -- lagging -- where do we still waiting for growth to really catch fire and might be later in the cycle.
Retail grocer is really surprise me these are the small momma -- pop grocers and what we saw on the in the data was that they're down 90% on a year over year basis.
There's not many moral.
It is so many let's start -- of retail grocers and their investments are down on a 1% basis year over year so.
That really surprised me.
All the numbers you -- through I know you see a lot of of that what does it tell you about the broader economy and where it's headed.
Well the in the -- via -- -- -- vastly improved for small business in this country we saw the the -- real loan delinquencies improved dramatically.
They're down no more than forty basis points now so -- financial capacity these millions of small companies is vastly improved from where was before.
That's good news is there anything that could knock it off track the certainly is confidence it's all about confidence and certainly every talks about the Euro.
Policy though on the accelerated depreciation is there's a place where if it really not confidence down.
If these investors in these small businesses can't.
Went off there of their capital purchases than they're gonna probably be more really -- who -- -- reluctant to go hot button makes them a big capital expenditures.
So great stuff really fascinating I love hearing about your numbers because they are such a great window into the health of small business thank you.
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