Confidence in the US equipment finance market stood at 65.4 in the Equipment Leasing & Finance Foundation’s Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI).
This was up from 65.1 in April’s survey meaning, for the third month in a row, business confidence among senior executives among equipment finance companies was at a two year high.
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Notably, when asked to predict business conditions over the next four months, no one thought it would get worse, compared to 2.9% last month. Those who thought it would stay the same grew from 60% to 68.6%, however those who thought it would continue to improve actually fell from 37% to 31.4%.
In a similar fashion, no one thought demand for leases and loans to fund capital expenditures would fall, while the number who though it would stay the same grew from 60% to 65.7%. Again, the number who thought it would improve fell slightly, from 37% to 34.3%.
The story was a little less positive for employment. Here 8.6% expect to hire fewer employees compared to 2.9% in April. 51.4% expect no change in employment, compared to 60% last month, while 40% expect to hire more employees over the next four months, compared to 37% in April.
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By GlobalData
