The Equipment Leasing & Finance Foundation (the Foundation) releases the February 2020 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). Overall, confidence in the equipment finance market in February is 58.7, easing but steady with the January index of 59.9. 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.
When asked about the outlook for the future, MCI-EFI survey respondent Adam Warner, President, Key Equipment Finance, says, “Thankfully, the economy seems to have ignored the political wrangling in Washington. We are hopeful, both personally and professionally, that the coronavirus can be effectively managed globally.”
Other February 2020 survey results:
• When asked to assess their business conditions over the next four months, 11.5% of executives responding said they believe business conditions will improve over the next four months, down from 14.8% in January. 84.6% of respondents believe business conditions will remain the same over the next four months, an increase from 81.5% the previous month. 3.9% believe business conditions will worsen, unchanged in January.
• When asked, 30.8% of the executives report they expect to hire more employees over the next four months, a decrease from 33.3% in January. 61.5% expect no change in headcount over the next four months, a decrease from 63% last month. 7.7% expect to hire fewer employees, up from 3.7% the previous month.
• 38.5% of the leadership evaluate the current U.S. economy as “excellent,” up from 37% the previous month. 61.5% of the leadership evaluate the current U.S. economy as “fair,” down from 63% in January. None evaluate it as “poor,” unchanged from last month.
For more information, visit: www.leasefoundation.org
