None of the leadership evaluate the current U.S. economy as 'excellent.'
Equipment Leasing & Finance Foundation
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.