Recently, the Equipment Leasing & Finance Foundation released its March 2014 Monthly Confidence Index for the Equipment Finance Industry and things are definitely looking up. The index is “designed to collect leadership data” and “reports a qualitative assessment” of current business conditions and expectations for the future of the industry, as reported by key executives from the “$827 billion equipment finance sector.”
Based on the report, overall confidence in the equipment finance market is 65.1, the highest index in two years. Additionally, the index is up 1.8 from February (63.3) and the first quarter levels for the index are the three highest since April 2011.
Here are some additional findings from the report, courtesy of Construction Equipment Guide:
- 31.4 percent of executives responding said they believe business conditions will improve over the next four months.
- 31.4 percent of those surveyed believe demand for leases and loans to fund capital expenditures will increase over the next four months.
- 31.4 percent expect more access to capital to fund equipment acquisitions over the next four months.
- 40 percent of executives surveyed report they expect to hire additional employees over the next four months.
- 88.6 percent of executives rate the current U.S. economy as “Fair” while 5.7 percent rate it as “Excellent”, up from 3 percent in February 2014.
- 31.4 percent of those surveyed said they believe that economic conditions in the United States will get “better” in the next six months.
- 45.7 percent believe their company will increase spending on business development activities over the course of the next six months.
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