The Equipment Leasing & Finance Foundation (the Foundation) releases the April 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 56.1, a decrease from the March index of 58.2.
When asked about the outlook for the future, MCI-EFI survey respondent Jim DeFrank, EVP and chief operating officer, Isuzu Finance of America, Inc., says, “There is huge pent-up demand for all kinds of products. In the transportation space, the final mile vehicles are in great demand, and we see this continuing for at least 12 to 18 months. Once the supply chain catches up, we will see some kind of normalcy return to the equipment finance industry.”
“The Russian-Ukraine war will have economic fallout around the world for the near term,” says James D. Jenks, CEO, Global Finance and Leasing Services, LLC.
Bruce J. Winter, President, FSG Capital, Inc., says, “The Fed's stated position to raise rates to try to tame inflation will begin to have consequences in the economy. As consumers spend their leftover stimulus funding this year, there will be less money available for discretionary spending, and the rapidly rising costs of staples will hurt those at the lowest end of the income spectrum.”
For more information, visit: www.leasefoundation.org
