Equipment finance industry improves in October
- 58.5% of the leadership evaluates the current U.S. economy as “fair,” an increase from 55.0% last month. 41.5% rate it as “poor,” down from 45.0% in September.
- 4.9% of survey respondents believe that U.S. economic conditions will get “better” over the next six months, up from 2.5% in September. 78.0% of survey respondents indicate they believe the U.S. economy will “stay the same” over the next six months, up from 75.0% in September. 17.1% responded that they believe economic conditions in the U.S. will worsen over the next six months, down from 22.5% who believed so last month.
- In October, 26.8% of respondents indicate they believe their company will increase spending on business development activities during the next six months, down from 30.0% in September. 68.3% believe there will be “no change” in business development spending, down from 70.0% last month, and 4.9% believe there will be a decrease in spending, up from no one who believed so last month.
October 2011 MCI Survey Comments from Industry Executive Leadership:
Depending on the market segment they represent, executives have differing points of view on the current and future outlook for the industry.
Bank, Large Ticket
“The equipment leasing and finance industry continues to be resilient. The pipeline of activity remains strong in spite of the negative headline news about the economy.” Executive, Large Ticket, Bank
Bank, Middle Ticket
“Restraint is the operative word with capital equipment spending. Replacement equipment, refinancing at lower rates, and some select industry growth is creating new business today and in the near future.” Harry Kaplun, president, Frost Equipment Leasing and Finance
Financial Services, Small Ticket
“Growth will be a challenge for many in the short-term. Successful companies will be driven by innovation and access to low-cost capital.” Executive, Small Ticket, Financial Services
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