While 451 Research's 2024 payments survey was fielded against the backdrop of rising interest rates, the 2025 survey was conducted amid tariff announcements by the current US administration. The first quarter of 2025 reflected a sharp decline in economic sentiment among US businesses, with the Q1 sales outlook in deep red, and similar projections for the second quarter pipeline as businesses continue to navigate tariff implications and the costs they will need to absorb or pass on to customers. The drop marks the first dip in sales outlook during the first 90 days of a new US presidential administration since we started recording this data in March 2001, according to an analysis of the Macroeconomic Outlook, Business Trends survey.
The full report is only available to 451 Alliance members.
JOIN THE ALLIANCE MEMBER LOGIN