New agriculture, construction and transportation businesses were on the rise in the fourth quarter of 2023.
More enterprises means more consumers want those services.
using data from the U.S. Bureau of Labor Statistics and defines establishments as a single physical location where one predominant activity occurs. The index offers a valuable barometer for consumer demand in the equipment finance industry.
The number of private establishments in agriculture and forestry rose to 115,373 in Q4 2023, up 0.3% sequentially and 1.9% year over year, according to the latest U.S. Bureau of Labor Statistics in EFN’s data set.
Private construction establishments rose to 939,791 in Q4 2023, up 0.4% sequentially and 2.5% YoY.
The number of private establishments in truck transportation climbed to 183,186 in Q4 2023, up 0.1% sequentially and 2.3% YoY.
The number of private transit and ground passenger transportation establishments rose to 21,884 in Q4 2023, up 0.2% sequentially and 4.9% YoY.
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