July 22, 2013
The Equipment Leasing & Finance Foundation has released the July 2013 Monthly Confidence Index for the Equipment Finance Industry.
Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $725 billion equipment finance sector. Overall, confidence in the equipment finance market is 59.4, an increase from the June index of 57.3, reflecting industry participants’ increasing optimism despite continued moderate demand for equipment, the Foundation says.
When asked about the outlook for the future, MCI survey respondent Russell Nelson, president, CoBank Farm Credit Leasing, says, “Demand for replacement/additions of equipment and facilities remains steady to increasing, with rising interest rates and equipment costs accelerating capital expenditures through the remainder of 2013. We have growing confidence that the economy and business climate will continue to post modest improvement during the next 18 months.”