Wipro Shares in Focus: Key Insights and Latest Updates (December 2024)

The finances business article blog usa new As of February 7, 2025, here are some recent developments in the U.S. finance and business sectors: Decline in Business Equipment Borrowing In August 2024, U.S. companies borrowed 10% less for equipment investments compared to the same month in the previous year, as reported by the Equipment Leasing and Finance Association (ELFA). New loans, leases, and lines of credit decreased by 17% from July's figure of $11.1 billion. Despite this decline, the ELFA noted that the Federal Reserve's decision to lower interest rates may bolster future equipment demand, although some companies might delay borrowing until rates decrease further. Credit approvals remained constant at 76% compared to July. The confidence index from ELFA's affiliate, the Equipment Leasing & Finance Foundation, rose to 61.9 in September, marking its highest point in over two years, up from 58.4 in August. This index, based on feedback from major financial entities including Bank of America and Caterpillar, suggests a positive business outlook with any reading above 50 considered favorable. reuters.com Financial Services Sector Overview As of October 31, 2024, financial services in the United States represented 15% of the S&P 500 Equal Weight Index. The U.S. finance industry has seen significant growth over the decades, comprising only 10% of total non-farm business profits in 1947 but expanding to 50% by 2010. Over the same period, finance industry income as a proportion of GDP rose from 2.5% to 7.5%, and the finance industry's proportion of all corporate income rose from 10% to 20%. In 2018, the share of GDP was 7.4%, equivalent to $1.5 trillion in value-added to the economy. The mean earnings per employee hour in finance relative to all other sectors have closely mirrored the share of total U.S. income earned by the top 1% income earners since 1930. The mean salary in New York City's finance industry rose from $80,000 in 1981 to $360,000 in 2011, while average New York City salaries rose from $40,000 to $70,000. In 1988, there were about 12,500 U.S. banks with less than $300 million in deposits, and about 900 with more deposits, but by 2012, there were only 4,200 banks with less than $300 million in deposits in the U.S., and over 1,801 with more. en.wikipedia.org For the most current updates, consider visiting reputable financial news outlets such as Bloomberg