The increases in corporate borrowing reported by U.S. banks last week suggest parts of the economy are remaining resilient amid current pressures, Reuters reported Monday (April 20). The report said the gains came despite inflationary pressures, fears of a slowdown, and uncertainties around policy and the labor market. Consumer lending remained resilient, although several banks reported that it was outpaced by commercial lending and in some cases remained flat or declined, according to the report. Highlighting recent results, Reuters said that Bank America saw 12% growth in commercial loans and 4% in consumer, Wells Fargo saw 16.4% growth in commercial loans and 3.7% in consumer, JPMorgan saw about 18% growth in commercial loans and about flat in consumer, and KeyCorp saw 3% growth in total loans despite a 7.2% drop in consumer loans. JPMorgan CEO Jamie Dimon said last week, per the report: “The U.S. economy remained resilient in the quarter, with consumers still earning and spending, and businesses still healthy.” PYMNTS reported Friday (April 17) that among regional banks, earnings showed that commercial lending is where the growth is coming from. First quarter earnings from PNC, KeyCorp, U.S. Bancorp, Truist, Fifth Third and Regions showed commercial lending gaining momentum, with corporate clients borrowing more actively and drawing further down on existing credit lines. Commercial lending behavior was the clearest change seen among this group, according to the report. Regions Chief Financial Officer Anil Chadha told analysts on a conference call: “Approximately half [of loan growth] was driven by higher line utilization, with the remainder from new loan originations, primarily to existing clients.” The Conference Board reported Feb. 26 that CEO confidence rose significantly in the first quarter and reached the highest level in a year. The organization’s survey, which was conducted during the first half of February, found that its Measure of CEO Confidence rose by 11 points over the previous quarter and reached 59 on a scale on which a reading over 50 reflects more positive than negative responses. The Conference Board Chief Economist Dana M Peterson said this survey result reflected “restored optimism among leaders of large firms.” The post Commercial Loans Show US Economy Defies Sluggish Forecasts appeared first on PYMNTS.com.