Business and consumer confidence surged after the election and remain at record highs, a recent optimism that coud translate into higher consumption and investment increases, notes the Equipment Leasing & Finance Foundation in a new quarterly Industry Snapshot.
The Equipment Leasing and Finance Association, which represents the $1 trillion equipment finance sector, this week revealed its Top 10 Equipment Acquisition Trends for 2017, with predictions of economic improvement, renewed business confidence and business-friendly policy changes.
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Looking ahead, the Great Recession recovery will put the equipment finance industry at a crossroads, says Peter Bullen, senior vice president of Key Equipment Finance, in the latest issue of the National Equipment Finance Association's Newsline magazine.
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The second quarter saw "more of the same" for the equipment finance industry, and that's a good thing, according to a recent article by Leasing & Finance magazine, a publication of the Equipment Leasing and Finance Association (ELFA).
"The data are surprisingly consistent, and the feedback from the steering committee meetings is that, by and large, businesses are doing quite well," says Key Equipment Finance's Brian Madison, chair of the captive and vendor finance council for the ELFA's Business Council Steering Committee.
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Fueled in part by strong summer demand and consumer optimism, confidence in the equipment leasing and finance industry rose sharply in August, according to the Equipment Leasing & Finance Foundation's monthly confidence index.
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The Equipment Leasing & Finance Foundation is hosting a one-hour webcast on July 15 to present the findings of its third quarter 2015 update, part of its full-year U.S. economic outlook.
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Equipment finance companies showed strongly in the first quarter of 2015, but confidence eased in April.
The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $903 billion equipment finance sector, showed their overall new business volume for March was $8.9 billion, up 25 percent from new business volume in March 2014.
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Equipment Leasing & Finance Magazine is tackling the economic outlook for equipment financing in its current issue, and Key Equipment Finance's Brian Madison, who chairs the Business Council Steering Committee, contributes to the dialogue.
“We did a roundtable with the Captive and Vendor Finance Business Council Steering Committee (BCSC) in January, and collectively everybody felt like they had a pretty strong December, which is exactly what the data showed,” said Madison, senior vice president at Key Equipment Finance, in the article titled "Data Indicate A Bright Picture for 2015."
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Asset management is evolving to focus less on residual value of equipment and more on assessing value, writes Christopher P. Nugent, our vice president of asset management, in a recent article in the Equipment Finance Advisor.
Here's an excerpt:
Although the role of the asset manager is changing, the skill sets needed remain the same. Our primary responsibilities require the ability to evaluate equipment and determine how essential that equipment is to the operations of the company. However, the conversations around value and the way we determine it are changing significantly.
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With news this week of overall confidence in the equipment finance market reaching the highest level in the last three years, it appears companies with obsolete equipment or pent-up demand for new equipment might be loosening up the capital purse strings.
The Equipment Leasing & Finance Foundation's monthly confidence index for the equipment finance industry is 66.1, an increase from the December index of 63.4 and the highest level in the last three years.READ MORE
