The Equipment Leasing and Finance Foundation released its February Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) that shows confidence in the equipment financing sector dropped from January's 54.0 index to February's 48.3.
February 2016 Survey Results:
Business conditions over the next four months:
- 3.2 percent respondents said they believe business conditions will improve - down 10.7 percent.
- 71.0 percent respondents believe business conditions will remain the same - down 7.6 percent.
- 25.8 percent believe business conditions will worsen - up 15.1 percent.
Demand for leases over the next four months:
- 3.2 percent survey respondents believe demand will increase - down 7.5 percent
- 61.3 percent believe demand will remain the same - down 10.1 percent.
- 35.5 percent believe demand will decline - up 17.9 percent.
Opinion of economic conditions over the next six months:
- 6.5 percent of the survey respondents believe that U.S. economic conditions will get better - up 3.6 percent.
- 67.7 percent believe the U.S. economy will stay the same - down 8.7 percent.
- 25.8 percent believe economic conditions in the U.S. will worsen - up 4.4 percent.
“A flat domestic economy, muffled by presidential election uncertainty, will subdue growth in 2016,” said Paul Menzel, president of Financial Pacific Leasing, LLC.
Source: Equipment Leasing & Finance Foundation