Equipment Finance Industry Confidence Improves in February
The Equipment Leasing & Finance Foundation has released its February 2023 Monthly Confidence Index for the Equipment Finance Industry, which shows an increase in confidence in the equipment finance market to 51.8, up from 48.5 in January. The report indicates that pent-up demand in the light and medium-duty transportation segment is expected to decline by the third or fourth quarter of this year. Survey results show that 16.1% of executives expect business conditions to improve over the next four months, while 9.7% believe demand for leases and loans to fund capital expenditures will increase. 38.7% of respondents expect to hire more employees over the next four months, and 51.6% believe their companies will increase spending on business development activities over the next six months.