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July 6, 2015

Monthly confidence eases in June

Washington, DC--The Equipment Leasing & Finance Foundation (the Foundation) has released the June 2015 ‘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 $903 billion equipment finance sector. Overall, confidence in the equipment finance market is 63.0, easing from the May index of 67.5.

When asked about the outlook for the future, MCI-EFI survey respondent Thomas Jaschik, President, BB&T Equipment Finance, said, "I believe any rise in interest rates will spur activity within the equipment finance industry. Companies continue to defer capital expenditures as long as possible. A rise in interest rates will hopefully provide a catalyst to accelerate capital expenditures as costs may rise in the future."

The overall MCI-EFI is 63.0, an easing from the May index of 67.5.

  • When asked to assess their business conditions over the next four months, 17.9 per cent of executives responding said they believe business conditions will improve over the next four months, down from 30.8 per cent in May. 82.1 per cent of respondents believe business conditions will remain the same over the next four months, up from 69.2 per cent in May. None believe business conditions will worsen, unchanged from the previous month.
  • 21.4 per cent of survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, down from 34.6 per cent in May. 78.6 per cent believe demand will "remain the same" during the same four-month time period, up from 65.4 per cent the previous month. None believe demand will decline, unchanged from May.
  • 25 per cent of executives expect more access to capital to fund equipment acquisitions over the next four months, down from 38.5 per cent in May. 75 per cent of survey respondents indicate they expect the "same" access to capital to fund business, up from 57.7 per cent in May. None expect "less" access to capital, down from 3.9 per cent who expected less access to capital the previous month.
  • When asked, 57.1 per cent of the executives reported they expect to hire more employees over the next four months, an increase from 53.9 per cent in May. 35.7 per cent expect no change in headcount over the next four months, down from 42.3 per cent last month. 7.1 per cent expect to hire fewer employees, up from 3.9 per cent who expected fewer in May.
  • 3.6 per cent of the leadership evaluate the current U.S. economy as "excellent," relatively unchanged from 3.9 per cent last month. 96.4 per cent of the leadership evaluate the current U.S. economy as "fair," and none rate it as "poor," both unchanged from the previous month.
  • 28.6 per cent of the survey respondents believe that U.S. economic conditions will get "better" over the next six months, a decrease from 34.6 per cent who believed so in May. 67.9 per cent of survey respondents indicate they believe the U.S. economy will "stay the same" over the next six months, an increase from 65.4 per cent in May. 3.6 per cent believe economic conditions in the U.S. will worsen over the next six months, an increase from none who believed so last month.
  • In June, 35.7 per cent of respondents indicate they believe their company will increase spending on business development activities during the next six months, a decrease from 50 per cent in May. 60.7 per cent believe there will be "no change" in business development spending, an increase from 46.2 per cent last month. 3.6 per cent believe there will be a decrease in spending, relatively unchanged from 3.9 per cent who believed so last month.

 

 

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