Economic Insights Newsletter

Commercial Customer Survey Results: 3Q2022

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Companies reporting the same or higher volume of business compared to the previous quarter improved marginally, though incoming new business stayed the same.

Figure 3 shows how commercial operators are being impacted. In 2Q22, 45% reported charging higher prices, yet in the same quarter 59% reported paying higher prices for inputs. The same trend was in place in 3Q22 but to a lesser extent (34% charging higher prices versus 48% paying higher prices).

Figure 3
Source: Synovus Commercial Customer Survey

This is margin erosion, and the results show that some costs are not being passed along to the customers of our clients. Fortunately, the degree of higher prices paid seems to be lessening, although so does the degree of higher prices being charged, and this reinforces the premise that both slowing demand and thawing supply chains are factors in play right now.

Cal Evans, Synovus Senior Director Investor Relations & Market Intelligence

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