Business Checkpoint: Navigating Logistics Challenges
Profitability Growth and Logistics Costs
Profitability growth was positive in the third quarter, but logistics costs and supply chain pressures present significant challenges.
Key Takeaways
- Small and mid-sized businesses started Q3 with solid financial positions, with profitability growth across both groups, according to Bank of America data.
- Nearly half of estimated tariff payments had been refunded by September, but the refund-to-revenue ratio has peaked.
- Logistics spending growth per client increased fourfold for small firms compared to mid-sized firms in Bank of America's business payments data.
- Distribution and inventory transactions growth per client has outpaced spending since spring 2025.
- Growing transportation bottlenecks are expected ahead of the holiday season due to tightened trucking capacity and constrained driver availability, according to BofA Global Research.
Business Checkpoint Overview
Business Checkpoint is a new, regular publication from the Bank of America Institute, offering a real-time view of small and mid-sized businesses' financial health, opportunities, and challenges across the US economy. It leverages the depth and breadth of Bank of America's proprietary data, providing timely insights into business profitability, hiring, investment, and spending trends.
Full Analysis and Additional Materials
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- Consumer Checkpoint: Strength in Numbers (September 2026)
- The Institute Employment Report: September 2026 (October 2026)
- Entering the Age of the Older Consumer (October 2026)
Disclaimer: These materials are provided for general information purposes only. They are not intended to reflect the results of operations, financial condition, or performance of Bank of America.