Kelli Nienaber And Chelsea Neil 2016-08-03 08:08:19
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Kelli Nienaber is Executive Director of the Foundation and Chelsea Neil is Program Assistant for the Foundation.
Political and Economic Uncertainty Drive Second Consecutive Monthly Decrease
ACCORDING TO the Equipment Leasing & Finance Foundation’s Monthly Confidence Index, confidence in the equipment finance market eased for the second consecutive month in June to 52.3, down from the May index of 55.1. Uncertainty about the November election and its impact on the U.S. economy were among respondents’ concerns.
When asked about the outlook for the future, MCI-EFI survey respondent Robert Boyer, President, Susquehanna Commercial Finance, said, “Increased consumer spending and confidence indications create some level of optimism, but 2016 capital investment will be heavily impacted by the uncertainty caused by the November election.”
Key Findings:
Survey Comments from Industry Executive Leadership:
“Rates remain low, capital is abundant, and credit appetites appear to be widening—all good news for would-be borrowers. On the other hand, we are experiencing a political environment that seems circus-like and a nation that is being rocked by threats of terrorism. We do not expect to see small and midsize businesses choosing to expand and invest with certainty. I believe the rest of this year will see a reasonable flow of business, but I’m not expecting a strong close to 2016.” - Valerie Hayes Jester, President, Brandywine Capital Associates, Inc.*
“Abundant liquidity, which increases competition and lowers spreads, is still the biggest story in our industry. The presidential election will keep a damper on economic expansion through the remainder of the year.” - Paul Menzel, President and CEO, Financial Pacific Leasing, LLC
“Year to date, the equipment finance industry has seen substantial decreases in new business activity compared to 2015. Given the choppy performance of the U.S. economy and political uncertainty I believe the balance of 2016 will be similar to the first half; not an optimistic outlook for the industry.” - Thomas Jaschik, President, BB&T Equipment Finance
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