GURU.Markets stock price, segment price, and overall market index valuation
The company's share price Simmons First National
Simmons First National is a regional bank operating in several states. Its stock price reflects economic activity in these regions, interest rate dynamics, and a successful growth strategy through the acquisition of smaller community banks.
Share prices of companies in the market segment - Regional banks
Simmons First is a regional banking holding company. It offers a full range of banking services. We classify it as part of the regional banking sector, and the chart below illustrates the overall dynamics of this interest rate-sensitive industry.
Broad Market Index - GURU.Markets
Simmons First National is a long-established regional bank providing financial services in the central and southern US. Its scale makes it a key component of the GURU.Markets index. The chart below represents the entire market. See how Simmons Bank fits into the overall performance.
Change in the price of a company, segment, and market as a whole per day
SFNC - Daily change in the company's share price Simmons First National
Change_co for Simmons First National, a regional bank, reflects sensitivity to the economy of the southern US states. This daily volatility is an important element in the formulas on System.GURU.Markets, allowing one to assess the bank's reaction to local economic and business trends that impact its loan portfolio.
Daily change in the price of a set of shares in a market segment - Regional banks
Simmons First National Corporation is a large regional bank. This chart shows the average daily volatility of the banking sector. Comparing it to SFNC, with its network spanning several states, helps assess its stability compared to smaller players.
Daily change in the price of a broad market stock, index - GURU.Markets
Simmons First is a regional bank operating in the United States. The banking sector is sensitive to interest rate changes and economic conditions. The chart below shows the average volatility for this sector, allowing you to compare Simmons First's performance with the overall market.
Dynamics of market capitalization of the company, segment and the market as a whole over 12 months
Annual dynamics of the company's market capitalization Simmons First National
Simmons First is a large regional bank in the United States. Its year-over-year performance reflected the overall banking sector, including interest rate dynamics and the state of the credit market, as well as the successful integration of recent acquisitions.
Annual dynamics of market capitalization of the market segment - Regional banks
Simmons First National Corporation is a regional bank actively growing through acquisitions in the southern US. Its strategy is aimed at creating a major regional player. The chart shows how its integration efforts and the economic health of its key markets impact its performance.
Annual dynamics of market capitalization of broad market stocks, index - GURU.Markets
Simmons First National is a classic regional bank whose stock performance reflects the economic health of the regions where it operates. The bank's trajectory is closely tied to interest rate cycles and the lending activity of local businesses and households, making it a barometer of the local, rather than the global, economy.
Dynamics of market capitalization of the company, segment and the market as a whole for the month
Monthly dynamics of the company's market capitalization Simmons First National
Simmons First, a regional bank, mirrors the economy of the southern and central US states. Monthly fluctuations on the chart depend on loan growth, asset quality, and the successful integration of numerous banks acquired as part of its growth strategy.
Monthly dynamics of market capitalization of the market segment - Regional banks
Simmons First National Corporation is a bank holding company operating a network of banks in several states in the central United States. The dynamics of the regional banking sector, shown in the chart, reflect the economies of these regions. Against this backdrop, one can appreciate how Simmons' growth strategy through acquisitions and focus on serving communities are enabling it to expand its presence.
Monthly dynamics of market capitalization of broad market stocks, index - GURU.Markets
Simmons First National is a regional banking holding company operating in the southern and central states. Its performance mirrors the economies of these regions. The chart below shows how the bank's shares, reflecting the health of local businesses, have been insulated from the volatility of the tech giants that dominate the S&P 500.
Dynamics of market capitalization of the company, segment and the market as a whole for the week
Weekly dynamics of the company's market capitalization Simmons First National
Shares of Simmons First National, a regional bank, reflect the economic situation in the central and southern US. Weekly price movements are sensitive to changes in interest rates, as well as the health of local sectors such as agriculture and energy. The chart below shows how these factors shape short-term price movements.
Weekly dynamics of market capitalization of the market segment - Regional banks
How typical is Simmons First National's performance for the regional banking sector? This chart compares the bank's weekly stock price movements to the industry average. This helps us understand whether its stock price reflects general sentiment or is more influenced by the specific economic conditions of its regions of operation, such as Arkansas and Texas.
Weekly dynamics of market capitalization of stocks of the broad market, index - GURU.Markets
Simmons First National is a regional bank with a presence in several states. This chart compares its weekly performance to the broader market. It helps investors assess how its diversified geographic presence helps mitigate risk compared to banks operating in only one region.
Market capitalization of the company, segment and market as a whole
SFNC - Market capitalization of the company Simmons First National
The valuation chart of Simmons First National reflects its acquisition-based growth strategy in the southern US banking sector. The holding's market capitalization depends on its ability to successfully integrate acquired banks and increase market share. The dynamics reflect investors' assessment of this consolidation model.
SFNC - Share of the company's market capitalization Simmons First National within the market segment - Regional banks
Simmons First National is a banking holding company with a significant presence in the central United States. Its share of regional bank market capitalization reflects its scale, achieved through organic growth and a series of acquisitions. The chart shows how investors view its expansion strategy and ability to effectively manage its banking network across multiple states.
Market capitalization of the market segment - Regional banks
This chart shows the total capitalization of regional banks in the southern United States. Simmons First National, with its long history and active acquisition strategy, is a major player. The diagram demonstrates the scale and consolidation of the banking sector, where the company is constantly expanding its presence.
Market capitalization of all companies included in a broad market index - GURU.Markets
This chart depicts the financial profile of one of the key banks in the southern United States. Simmons First National's market capitalization reflects the economic health of the states of Arkansas, Tennessee, and Missouri. Its market share reflects the weight of traditional banking, which serves as the foundation for the real economy in its region.
Book value capitalization of the company, segment and market as a whole
SFNC - Book value capitalization of the company Simmons First National
The chart below is a financial mirror of Simmons First National, a large regional bank. The line on it reflects the value of its loan portfolio, branch network, and investment assets. By monitoring these dynamics, one can assess the bank's growth strategy through acquisitions and organic expansion.
SFNC - Share of the company's book capitalization Simmons First National within the market segment - Regional banks
Simmons First National's network of branches and operations centers forms its physical backbone, establishing a presence in several states. The chart shows the bank's share of regional banking sector tangible assets, allowing one to assess the scale of its physical infrastructure and reach in the South and Midwest.
Market segment balance sheet capitalization - Regional banks
Simmons First National is a large regional bank. Its strength and presence in six states are underpinned by an extensive network of hundreds of physical branches. Is such reliance on real estate the norm for banks? The chart below illustrates the physical foundation, expressed in buildings and infrastructure, that underpins the entire banking sector.
Book value of all companies included in the broad market index - GURU.Markets
Simmons First National's balance sheet is a financial pillar for communities in the central United States. The bank's assets are loans to local businesses and households, making it a key element of the regional economy. The chart shows its overall weight in the national banking system.
The ratio of market capitalization to book capitalization of a company, segment, and the market as a whole
Market capitalization to book capitalization ratio - Simmons First National
Simmons First National is a regional bank with a presence in several states. Its market valuation typically revolves around its book value (equity). The chart shows how investors view its acquisition strategy and ability to integrate other banks, as well as the quality of its diverse loan portfolio.
Market to book capitalization ratio in a market segment - Regional banks
Simmons First National is a bank holding company with a presence in several states. Like any bank, its equity is the foundation of its business. This metric demonstrates how the market assesses the bank's ability to generate returns on its capital compared to other regional banks.
Market to book capitalization ratio for the market as a whole
Simmons First National is a regional bank with a presence in several states in the central United States. This chart shows how the market values โโthis conservative banking business. The company's valuation is closely tied to its book value, reflecting the quality of its loan portfolio and the stability of its deposit base. The premium or discount depends on the health of the regional economies it serves.
Debts of the company, segment and market as a whole
SFNC - Company debts Simmons First National
Simmons First National is a long-established regional bank that is actively growing through acquisitions. Debt and raised capital are key resources for implementing this M&A strategy. This chart shows how the bank is using its capital to expand its geographic presence and customer base.
Market segment debts - Regional banks
Simmons First National is a regional bank holding company providing a wide range of financial services. In the banking sector, balance sheet management and capital adequacy are fundamental to stability. This chart reflects the industry's average leverage ratios, allowing one to assess how conservative Simmons' approach to its lending and investment policies is.
Market debt in general
Debt to book value of the company, segment and market as a whole
The company's debt to book capitalization ratio Simmons First National
Simmons First National is a regional bank that has grown rapidly through acquisitions. Each such transaction impacts its capital structure. This chart shows the bank's current leverage and capitalization, allowing us to assess how successfully it has integrated its acquired assets and is prepared for future challenges.
Market segment debt to market segment book capitalization - Regional banks
Simmons First National is a regional bank with a presence in several states, growing both organically and through acquisitions. This chart compares its debt obligations to the total capitalization of the entire regional bank sector. It helps assess the aggressiveness of its expansion strategy and how it manages risk.
Debt to book value of all companies in the market
Simmons First National is a regional bank growing through acquisitions. This chart compares its debt to the overall market's book value. It helps assess how aggressive the bank's consolidation strategy is nationally and how it aligns with overall banking industry trends.
P/E of the company, segment and market as a whole
P/E - Simmons First National
For Simmons First National, a regional bank, this metric demonstrates how investors assess its financial health and growth prospects. In the banking industry, it helps compare the company's valuation with its peers and determine whether its shares are overvalued or undervalued based on current profitability and loan portfolio quality.
P/E of the market segment - Regional banks
This indicator reflects the average rating for the regional banking sector, where Simmons First National operates. For investors, it acts as a benchmark for the industry, demonstrating how the market generally views banks' prospects in the current economic environment. Comparison with this benchmark helps determine whether Simmons stands out from its peers.
P/E of the market as a whole
Simmons First National is a regional bank with over a century of history, serving several states in the central United States. The company emphasizes personalized service and deep knowledge of local markets. This chart, reflecting overall sentiment, allows you to assess how the market views traditional and stable financial institutions.
Future P/E of the company, segment and market as a whole
Future (projected) P/E of the company Simmons First National
Simmons First National is a regional bank with a presence in several states in the central United States. This chart shows analyst expectations for future profitability, which depend on the health of local economies, loan growth, and interest margins. It offers a glimpse into the outlook for traditional banking in the heartland of America.
Future (projected) P/E of the market segment - Regional banks
Simmons First National Corporation is a financial holding company that, through its subsidiary, Simmons Bank, provides comprehensive banking services in several states in the central and southern United States. This chart illustrates average investor profitability expectations in the regional banking sector, allowing market analysts to compare how Simmons First compares to its peers.
Future (projected) P/E of the market as a whole
Simmons First National is a regional bank with a presence in several states in the central United States. Its business is traditional lending, closely tied to the health of local economies, including agriculture and small businesses. Given the overall market outlook, regional specificity is particularly important to Simmons.
Profit of the company, segment and market as a whole
Company profit Simmons First National
Simmons First National is a regional bank holding company providing financial services in several states. Its profits are generated through lending and other banking operations. This chart shows how the economic health of the communities it serves, interest rates, and the successful integration of acquired banks influence its bottom line.
Profit of companies in the market segment - Regional banks
Simmons First National Corporation is a bank holding company providing financial services in several states in the central United States. This chart shows the combined profits of regional banks. The bank's success depends on the health of local economies, particularly agriculture and small businesses. Its financial performance reflects economic activity in the heartland of America, influencing the overall picture.
Overall market profit
Simmons First National is a regional bank serving clients in several states in the central United States. Its financial metrics, such as loan portfolio growth and reserve levels, are directly dependent on the economic health of the communities it serves. This graph of total corporate profits illustrates the macroeconomic backdrop that shapes the operating conditions for the entire banking sector.
Future (predicted) profit of the company, segment and market as a whole
Future (projected) profit of the company Simmons First National
Simmons First National is a regional banking holding company providing services in several states in the central United States. The forecast for future profits, which you see in this chart, depends on interest rate dynamics, the quality of the loan portfolio, and economic development in the regions where it operates. It shows how analysts assess the prospects for local businesses and consumers.
Future (predicted) profit of companies in the market segment - Regional banks
Simmons First National Corporation is a banking holding company providing financial services in several states in the central United States. This chart shows profitability forecasts for regional banks. It reflects expectations for economic development in the regions where the bank operates and interest rate dynamics, shaping the bank's operating environment.
Future (predicted) profit of the market as a whole
Simmons First National is a regional bank with a presence in several states in the central United States. Its success depends on the health of local economies, including agriculture and small businesses. The overall market earnings forecast shown here is an indicator of national trends. Positive expectations support business activity and growth of the bank's loan portfolio.
P/S of the company, segment and market as a whole
P/S - Simmons First National
Simmons First National is a regional bank with a presence in several states. Its revenue is generated through lending and other banking services. Its P/S ratio reflects how the market views its acquisition strategy and ability to integrate new banks, as well as its revenue generation efficiency from its expanding customer base.
P/S market segment - Regional banks
Simmons First National is a regional bank holding company with a presence in several states in the central United States. It is growing both organically and through acquisitions. This chart shows how the market views its consolidation strategy and operational efficiency compared to other banks of similar size.
P/S of the market as a whole
Simmons First National is a regional banking holding company providing services in several states. Its revenue is driven by interest margins and economic growth in the regions where it operates. This chart shows the average revenue estimate for the market, allowing the diversified regional bank's valuation to be compared with overall financial sector trends.
Future P/S of the company, segment and market as a whole
Future (projected) P/S of the company Simmons First National
Simmons First National is a regional bank with a presence in several states in the central United States. The company grows both organically and through acquisitions. This chart illustrates investor expectations for the bank's future revenue growth, based on its ability to successfully integrate acquired banks and expand lending in its regions.
Future (projected) P/S of the market segment - Regional banks
Simmons First National Corporation is a regional bank holding company operating through Simmons Bank and providing services in several states in the central United States. This chart compares market expectations for the bank's future earnings with those of other regional financial institutions, reflecting how investors view its M&A strategy and organic growth.
Future (projected) P/S of the market as a whole
Simmons First National is a regional bank that is actively growing through mergers and acquisitions, expanding its footprint. Its strategy reflects consolidation in the banking sector. This chart shows aggregate market expectations for future revenue, and SFNC's example illustrates how regional leaders are striving for growth and efficiency in a changing financial environment.
Sales of the company, segment and market as a whole
Company sales Simmons First National
Simmons First National Corporation is a financial holding company that manages the Simmons Bank network. This chart shows its total revenue, consisting of interest income from the loan portfolio and fees. Sales dynamics reflect the bank's ability to grow, including through acquisitions, and the economic health of the regions in which it operates.
Sales of companies in the market segment - Regional banks
Simmons First National is a regional bank with a presence in several states. This chart breaks down its revenue, breaking it down into net interest income from loans and fees from asset management, mortgages, and other services. This reflects its commitment to being a one-stop shop for its clients.
Overall market sales
Simmons First National is a regional bank with a presence in several states. Like most banks, its financial performance is closely tied to the economic health of the regions it serves. This chart of overall economic trends is an important indicator for SFNC, influencing loan demand and the quality of its loan portfolio.
Future sales volume of the company, segment and market as a whole
Future (projected) sales of the company Simmons First National
Simmons First National is a regional bank with a presence in several states in the central United States. Its revenue forecast reflects the economic health of these regions. This chart shows analysts' expectations for loan portfolio growth and net interest income, providing insight into the prospects for local businesses and agriculture.
Future (projected) sales of companies in the market segment - Regional banks
Simmons First National is a long-established regional bank offering a wide range of financial services. This chart shows revenue forecasts for the entire industry. It helps understand general trends, such as lending growth or decline, and the impact of interest rates on bank margins, which provide context for assessing Simmons Bank's performance.
Future (projected) sales of the market as a whole
Simmons First National is a regional bank with a presence in several states in the central United States. Its success is closely tied to the economic health of local communities, particularly in the agricultural and small business sectors. This market forecast chart is an indicator of future business activity, which drives demand for loans and other banking services that generate the bank's revenue.
Marginality of the company, segment and market as a whole
Company marginality Simmons First National
Simmons First National is a regional banking corporation. The chart below is a measure of its financial performance. It shows how successfully the bank manages its interest marginโthe difference between loan income and deposit expensesโand controls operating expenses to achieve bottom-line profits.
Market segment marginality - Regional banks
Simmons First National is a regional bank with a presence in several states in the central United States. This metric evaluates the effectiveness of its growth strategy and core banking operations. Consistent, above-average profitability reflects the successful integration of acquired banks and strong loan portfolio management.
Market marginality as a whole
Simmons First National is a regional bank holding company that has grown rapidly through acquisitions. Its mission is to effectively integrate new banks and operate in local markets. This national profitability chart serves as a benchmark for comparing Simmons' performance with other banks and the broader economy.
Employees in the company, segment and market as a whole
Number of employees in the company Simmons First National
Simmons First National is a regional banking holding company with a presence in several states. For a bank that grows partly through acquisitions, headcount dynamics reflect both organic growth and the integration of acquired banks. This chart helps assess the scale and effectiveness of its expansion strategy.
Share of the company's employees Simmons First National within the market segment - Regional banks
Simmons First National Corporation is a financial holding company that operates a network of community banks. This chart demonstrates its extensive regional presence through its team. It reflects the proportion of bank employees in small towns and communities that Simmons Bank employs, highlighting its commitment to local markets and its role as a major local employer.
Number of employees in the market segment - Regional banks
Simmons First National Corporation is a financial holding company providing banking services through a network of subsidiary banks. This chart shows total employment in the regional banking sector. Stability or growth in this indicator indicates the health of local economies in the regions where the bank operates, which is a key factor in its organic growth.
Number of employees in the market as a whole
Simmons First National is a long-established regional bank serving clients in several states. Its workforce growth is a barometer of the economic health of local communities. The bank's growing workforce indicates that small and medium-sized businesses in the region are confident and actively investing in growth.
Market capitalization per employee (in thousands of dollars) of the company, segment, and market as a whole
Market capitalization per employee (in thousands of dollars) of the company Simmons First National (SFNC)
Simmons First National is a regional banking holding company with a presence in several states. Their business model is based on providing a full range of banking services through a network of branches. This chart shows a picture typical of traditional banking: moderate capitalization per employee, as it is a service business requiring a significant staff.
Market capitalization per employee (in thousands of dollars) in the market segment - Regional banks
Simmons Bank is a regional bank that has grown significantly through acquisitions in the southern and central US. This chart shows the industry average. It allows investors to assess how effectively Simmons' management integrated these acquisitions and how its market value per employee compares to other regional banks.
Market capitalization per employee (in thousands of dollars) for the overall market
Simmons First National is a regional bank holding company that provides financial services through its network of banks. Value in this type of business is created through customer trust and sound loan portfolio management. This chart shows how the market evaluates the bank's team's effectiveness in achieving profitability and stability.
Profit per employee (in thousands of dollars) for the company, segment, and market as a whole
Profit per employee (in thousands of dollars) of the company Simmons First National (SFNC)
Simmons First National is a large regional banking holding company that grew through M&A in the southern and central US. Its mission is integration and efficiency. This chart shows how successfully the bank manages its expanded branch network, digitizes services, and generates profit per employee after numerous acquisitions.
Profit per employee (in thousands of dollars) in the market segment - Regional banks
Simmons First National is a diversified regional bank operating in Arkansas, Texas, and neighboring states. This chart shows the benchmark for "Regional Banks." In this sector, the profit per employee benchmark is typically more stable than that of "systemic" investment banks. It reflects the efficiency of traditional banking: deposit collection and lending.
Profit per employee (in thousands of dollars) for the market as a whole
Simmons First National is a banking holding company that operates a network of community banks in six states (Arkansas, Missouri, and others). They focus on traditional banking services. This indicator, which shows the average contribution of one employee to profits across the economy, allows us to assess the effectiveness of the regional banking sector, which Simmons represents.
Sales to employees of the company, segment and market as a whole
Sales per company employee Simmons First National (SFNC)
Simmons First National, a regional banking corporation, illustrates its operational efficiency in this chart. The increase in revenue per employee reflects the successful integration of acquired banks, loan portfolio growth, and operational cost optimization. This is an important metric for assessing performance in the banking sector.
Sales per employee in the market segment - Regional banks
Simmons First National is a diversified regional bank operating in several states. In banking, employee productivity directly impacts profits. This chart shows the average revenue per employee in the segment. It allows you to evaluate how effectively Simmons' team manages assets and serves clients compared to competitors.
Sales per employee for the market as a whole
Simmons First National (SFNC) is a regional bank with a presence in several states. Like its peers in the sector (WSFS, BKU), this metric measures operational efficiency. It answers the question: does the bank generate more loan and fee income per employee than its competitors? An increase in this graph is a sign of successful cost management and digitalization.
Short shares by company, segment and market as a whole
Shares shorted by company Simmons First National (SFNC)
Simmons First National is a regional bank with a presence in several states (Arkansas, Texas, Missouri). Like many banks its size, it's under pressure. This chart shows the number of investors betting on a decline. They are likely concerned about the bank having to pay more for deposits, which will reduce its net interest margin, or about risks in its loan portfolio.
Shares shorted by market segment - Regional banks
Simmons First National is a regional bank with a presence in several states, including Arkansas and Texas. It operates like a traditional commercial bank. This chart shows bearish sentiment in the banking sector. The increase in short positions signals that investors are concerned about the health of the entire industry, possibly due to the quality of loan portfolios or the impact of interest rates.
Shares shorted by the overall market
Simmons First National (SFNC) is a regional bank operating in several states in the southern and midwestern United States. Its business is traditional lending and deposits. This chart measures the overall level of pessimism. When investors are fearful (the indicator rises), they fear a recession. For the bank, this represents two threats: rising loan defaults and reduced demand for new loans from SFNC clients.
RSI 14 indicator for a company, segment, and market as a whole
The company's RSI 14 indicator Simmons First National (SFNC)
Simmons First National is a regional bank. It is sensitive to the economy of the southern US states and rates. A SFNC above 70 may reflect strong lending growth in the region. A SFNC below 30 is often associated with fears of a recession or specific problems in the regional economy (for example, in agriculture).
RSI 14 Market Segment - Regional banks
Simmons First National (Simmons Bank) is a regional bank holding company providing financial services in several states (Arkansas, Texas, and Missouri). This chart reflects the collective sentiment in the regional banking sector. It helps assess whether the entire industry is under pressure due to deposit outflows or credit risks.
RSI 14 for the overall market
Simmons First National (SFNC), a regional bank in the southern United States. This chart reflects the "temperature" of local businesses and agriculture. During periods of euphoria, farmers and companies actively borrow. During moments of panic, especially if it coincides with a drop in commodity prices, the risks in the bank's loan portfolio increase sharply.
Analyst consensus forecast for the company's share price, the segment, and the market as a whole
Analyst consensus stock price forecast SFNC (Simmons First National)
Simmons First National is a regional banking holding company operating in several states in the central United States. This chart shows the average analyst price forecast for the stock. This estimate depends on the bank's ability to grow loans, manage interest margins in the current rate cycle, and successfully integrate banks it has previously acquired.
The difference between the consensus estimate and the actual stock price SFNC (Simmons First National)
Simmons First National is a regional banking holding company that grew through numerous acquisitions, creating a network of banks across the southern and central US states. This chart shows how analysts assess their ability to successfully absorb these acquisitions and grow in their diverse markets. It reflects the gap between the consensus estimate and the current price.
Analyst consensus forecast for stock prices by market segment - Regional banks
Simmons First is a regional bank serving the "heartland" of America (Arkansas, Missouri, and Texas). It's a classic lender to small businesses and farmers. This chart shows analysts' overall expectations for the entire regional banking sector. It reflects whether experts believe the US agricultural belt is stable.
Analysts' consensus forecast for the overall market share price
Simmons First National (SFNC) is a century-old regional bank serving clients in several states, including Arkansas, Texas, and Tennessee. It's a classic, community-focused bank. This chart shows a summary of expert views on the economy. It reflects analysts' confidence in the economic health of the American heartland.
AKIMA index of the company, segment and market as a whole
AKiMA Company Index Simmons First National
Simmons First National is a diversified regional bank that grew out of Arkansas and now serves several states in the South and Midwest. This chart is a barometer of their regional expansion. It likely reflects their ability to successfully integrate acquired banks, grow their loan portfolio, and maintain asset quality in their communities.
AKIMA Market Segment Index - Regional banks
Simmons First (SFNC) is a diversified regional bank (headquartered in Arkansas) that has built a presence (through M&A) in six states in the South and Midwest. This composite metric evaluates banks. The chart shows the sector average. This benchmark: how does this M&A growth strategy (and diversification) differentiate SFNC from the average regional bank?
The AKIM Index for the overall market
Simmons First (SFNC) is a large regional bank serving the Southern United States (Arkansas, Tennessee). Its business (loans, deposits) directly reflects the health of the economies in these states. This chart, showing the market average, provides a macro backdrop. It helps assess how SFNC, whose profitability depends on interest rates, compares to the overall macroeconomic picture.