Confidence in the equipment finance market remained level at 50.7, compared to the May index of 50.2, as measured by the Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). The index, produced by the Equipment Leasing & Finance Foundation, measures prevailing business conditions and future expectations in the equipment finance sector.
“The stress the industry is experiencing in small business lending continues with elevated bankruptcy, delinquency, and a softening of credit quality," said respondent David Normandin, president and CEO, Wintrust Specialty Finance, in a statement. "It is important to remember during these times that well-positioned businesses actually grow, take share of wallet, and expand. Our industry is well positioned to help continue the success of these businesses, as well as help those struggling through a rough time in the economy."
About 11.5% of the executives responding said they believe business conditions will improve over the next four months, relatively unchanged from 11.1% in May. Over a quarter (76.9%) believe business conditions will remain the same over the next four months, down from 77.8% May.
Only 3.9% of the leadership evaluate the current U.S. economy as “excellent,” up from none the previous month. Some 76.9% of the leadership evaluate the current U.S. economy as “fair,” down from 85.2% in May.
A reported 14.8% of the survey respondents believe that U.S. economic conditions will get “better” over the next six months, up from 7.4% in May. Close to half (48.2%) indicate they believe the U.S. economy will “stay the same” over the next six months, a decrease from 63% last month.
