One survey respondent doesn't see imminent uptick unless there is return to energy independence.
Equipment Leasing & Finance Foundation
Overall, confidence in the equipment finance market is 47.0, a decrease from the March index of 50.3.
Year-to-date, cumulative new business volume was up nearly 9% compared to 2022.
This month’s index is 50.3, a decrease from the February index of 51.8.
Year-over-year trend highlighted in ELFA monthly report.
Overall, confidence in the equipment finance market is 51.8, an increase from the January index of 48.5
None of the leadership evaluate the current U.S. economy as 'excellent.'
Equipment Leasing and Finance Association Forecasts Sluggish Growth in Year Ahead
Cautious optimism is a theme for the industry moving into 2023.
None of the executives responding said they believe business conditions will improve over the next four months.
Economic outlook forecasts 5.9% expansion in equipment and software investment and 1.8% GDP growth.
Industry executive doesn't expect change in economy until after midterm elections.
Overall, confidence in the equipment finance market is 48.7, a decrease from the August index of 50
Large increase of executives say they believe business conditions will improve over the next four months
Fewer executives responding said they believe business conditions will improve over the next four months.
Following negative GDP growth in Q1, downside risks continue to plague the U.S. economy.
Year-to-date, cumulative new business volume was up nearly 8 percent compared to 2021.
Interest rates and federal uncertainties are causes for concern in the future.
Confidence level has decreased seven points, per report.
Normalcy could return once supply chain catches up.
Business investment has remained strong despite emerging economic headwinds.