The Equipment Leasing & Finance Foundation (the Foundation) releases the June 2022 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $900 billion equipment finance sector. Overall, confidence in the equipment finance market is 50.9, steady with the May index of 49.6.
When asked about the outlook for the future, MCI-EFI survey respondent Glenn Davis, president, RESIDCO, says, “Interest rates are a major concern. Uncertainties related to Fed action or inaction, as well as the continuing war in Ukraine will weigh heavily on the economy.”
Other June 2022 survey results include:
• When asked to assess their business conditions over the next four months, 11.1% of executives responding say they believe business conditions will improve over the next four months, an increase from 6.9% in May. 55.6% believe business conditions will remain the same over the next four months, down from 62.1% the previous month. 33.3% believe business conditions will worsen, an increase from 31% in May.
• When asked, 29.6% of the executives report they expect to hire more employees over the next four months, down from 48.3% in May. 66.7% expect no change in headcount over the next four months, an increase from 44.8% last month. 3.7% expect to hire fewer employees, down from 6.9% in May.
For more information, visit: www.leasefoundation.org
