A positive development in equipment finance indicates confidence is trending upwards, with the industry reporting three-year high levels.
A qualitative assessment from the Equipment Leasing and Finance Foundation in the US suggests overall confidence in the market currently sits at 67.7 – an increase of 3.3 on the last data collection and the highest mark since April 2018.
It’s cause for optimism for the $900 billion sector, and indeed indicative of what we can expect in Australia, with several findings from the assessment foreshadowing significant growth over the coming months.
Half of those involved in the survey indicated they are confident business conditions will improve in the next quarter, up almost 5% from the last data collection, while those who believe conditions will worsen have more than halved.
Around three in 10 believe their access to capital to fund equipment acquisitions will steadily improve, while no respondents expected less capital availability.
Meanwhile, nearly 40% expect their company will increase spending on business development over the coming six months – up from 30.8% last time the assessment was conducted.