The Equipment Leasing & Finance Foundation (the Foundation) releases the March 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 58.2, easing from the February index of 61.8.
When asked about the outlook for the future, MCI-EFI survey respondent Michael Romanowski, president, Farm Credit Leasing, says, “Supply chain issues continue to hamper equipment availability. The Ukraine conflict has enhanced volatility and is contributing to an already unsettled environment. We continue to work closely with our partners and customers to ensure we are advancing our mission in these uncertain times.”
When asked to assess their business conditions over the next four months, 21.4% of executives responding say they believe business conditions will improve over the next four months, a decrease from 24.1% in February. Fifty percent believe business conditions will remain the same over the next four months, down from 69% the previous month. More than 28% of respondents believe business conditions will worsen, an increase from 6.9% in February.
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