The latest release of the Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) from the Equipment Leasing and Finance Foundation show improved confidence in October compared to September.
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 61.1, an increase from the September index of 60.5.
When asked to assess their business conditions over the next four months, 25.9% of executives responding said they believe business conditions will improve over the next four months, up from 17.9% in September. 70.4% believe business conditions will remain the same over the next four months, down from 71.4% the previous month. 3.7% believe business conditions will worsen, down from 10.7% in September.
Of the survey respondents, 22.2% believe demand for leases and loans to fund capital expenditures will increase over the next four months, up from 21.4% in September. 74.1% believe demand will remain the same during the same four-month time period, a decrease from 75% the previous month. 3.7% believe demand will decline, up from none in September.
Of the respondents, 14.8% expect more access to capital to fund equipment acquisitions over the next four months, down from 32.1% in September. 85.2% of executives indicate they expect the same access to capital to fund business, an increase from 67.9% last month. None expect less access to capital, unchanged from the previous month.
Of the survey respondents, 22.2% believe that U.S. economic conditions will get better over the next six months, an increase from 17.9% in September. 63% indicate they believe the U.S. economy will stay the same over the next six months, a decrease from 64.3% from last month. 14.8% believe economic conditions in the U.S. will worsen over the next six months, down from 17.9% the previous month.
Visit the Foundation’s website for an even deeper look at the survey results.
