The Equipment Leasing & Finance Foundation (the Foundation) releases the August 2017 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). 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 $1 trillion equipment finance sector. Overall, confidence in the equipment finance market is 64.4 in August, up from 63.5 the previous two months, according to the organization.
When asked about the outlook for the future, MCI-EFI survey respondent Thomas Jaschik, president, BB&T Equipment Finance, says, “The political dysfunction in Washington continues to stifle the U.S. economy. Despite this lack of leadership the equipment finance industry has experienced solid growth in 2017. However, with some action on tax and regulatory reform the economy and equipment finance industry could greatly accelerate.”
When asked to assess their business conditions over the next four months, 38.2% of executives responding say they believe business conditions will improve over the next four months, an increase from 30.3% in July. 61.8% of respondents believe business conditions will remain the same over the next four months, a decrease from 69.7% in July. None believe business conditions will worsen, unchanged from the previous month.
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