Global Recession Coming Sooner Than Thought
Portland, OR, August 15th, 2019 – On Tuesday, equity markets across the globe jumped at the news that the Trump administration would delay some of the new tariffs on China it had announced earlier this month. But just one day later, global stock markets sold off hard due to ever-weakening economic data in Europe and Asia and further yield curve inversions.
Join Vanessa Vollum Edwards as she examines how the potential economic downturn will impact the creative services industry, and how agency leadership can best prepare their organizations for the financial and cultural consequences.
YouTube: Preparing Your Agency For the 2020 Recession
Some sobering facts:
- US economy has grown 121 consecutive months, longest economic expansion in history
- 4/20 of the largest economies in the world are in recession
- UK Brexit + US-China trade war impacting market confidence
- Bond Yield Curve has inverted (done so before every recession since the 50’s)
- 2/3 of US Economist and 50% of Global CFO’s are predicting it by end of 2020
CFO’s are already adjusting their budgets
“Fears of a downturn have resurfaced after more than a decade of steady economic expansion. 2/3’s of CFOs said they expect the U.S. economy to enter a recession by the third quarter of 2020, according to the Duke University/CFO Global Business Outlook survey of more than 1,500 CFOs around the world. And nearly half of U.S. CFOs say a recession is likely to by the end of 2019.”
CFO’s Fear a Recession Is Coming. Preparation Will Help Them Stand Out. Tatyana Shumsky – https://www.wsj.com/articles
About: Vanessa Vollum Edwards
Hailing from Portland, OR, Vanessa graduated from university with a degree in Philosophy. An amateur helicopter and fixed wing pilot since age sixteen, she began her first career as a pilot for LifeFlight. Upon completing her MBA, Vanessa was recruited by a fellow classmate into becoming the CFO/COO for a digital agency experiencing rapid growth. The agency was acquired in 2010. Over the last decade, Vanessa has built a strategic consultancy focused on empowering agency principals, accelerating growth, increasing profitability and deploying agency management software. She is a founder of AgencyStory®, a patent pending curated analytics solution for the marketing services industry.
Creative Performance Inc. is a consultancy that specializes in agency operations for the marketing services industry (agency and in-house). Over the last decade, CPI has helped over a hundred agencies through complex organizational change, with an emphasis on increasing project throughput, project profitability, client profitability and agency profit. CPI is consulting partners with AgencyStory®, Deltek WorkBook®, Oracle® and Workamajig® – helping their clients successfully deploy, adopt and transform in a manner that drives lasting change.