Contractors Hot Line is part of the Catalyst Communications Network publication family.
Contractors Hot Line is part of the Catalyst Communications Network publication family.
The Equipment Leasing & Finance Foundation has released the September 2024 Monthly Confidence Index for the equipment finance industry, reporting a significant increase in confidence to 61.9, up from 58.4 in August. This marks the highest level since January 2022.
“Many firms, particularly small and medium-sized businesses, have been delaying equipment purchases, citing continued high interest rates and uncertainty about the economy amplified by the upcoming election,” Nancy Pistorio, president of Madison Capital, said.
“This ‘let’s wait and see what happens’ mindset has contributed to diminished demand for equipment financing. Assuming the Federal Reserve lowers rates this fall, and once the election is behind us, I think we will begin to see an increase in business volumes. Barring any prolonged adverse reaction from the financial markets to the election outcome, I anticipate a more robust December and first quarter 2025 for our industry.”
Key survey highlights include:
Overall, the equipment finance industry remains cautiously optimistic as executives prepare for potential market shifts later this year.