WASHINGTON, Oct. 11, 2016 (GLOBE NEWSWIRE) — Investment in equipment and software is expected to contract -0.5 percent in 2016, according to the Q4 update to the 2016 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation. The Foundation lowered its forecast to -0.5 percent, down from 0.9 percent growth forecast in its Q3 Update to the 2016 Annual Outlook released in July. After contracting during the first two quarters, the new report forecasts modest equipment and software investment growth for the rest of 2016, as economic headwinds continue to weigh on investment spending and confidence. The Economic Outlook, which is focused on the $1 trillion equipment leasing and finance industry, highlights key trends in equipment investment and places them in the context of the broader U.S. economic climate.
Ralph Petta, President of the Foundation and President and CEO of the Equipment Leasing and Finance Association, said, “The softer growth numbers projected for 2016 reflect overall hesitancy on the part of business decision-makers to invest in equipment and software until the cloud that is the U.S. election cycle clears in November. A potential wild card impacting 2017 investment growth is the Federal Reserve’s decision whether to increase short-term interest rates prior to year-end.”
Highlights from the study include:
The Foundation produces the Equipment Leasing & Finance U.S. Economic Outlook report in partnership with economics and public policy consulting firm Keybridge Research. The annual economic forecast provides a three-to-six month outlook for industry investment with data, including a summary of investment trends in key equipment markets, credit market conditions, the U.S. macroeconomic outlook and key economic indicators. The Q4 report is the third and final update to the 2016 Annual Outlook.
Download the full report at www.leasefoundation.org/research/eo/.
The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization dedicated to inspiring thoughtful innovation and contributing to the betterment of the equipment leasing and finance industry. Funded through charitable individual and corporate donations, the Foundation focuses on the development of in-depth, independent research and resources for the advancement of equipment finance industry knowledge. Visit the Foundation online at www.LeaseFoundation.org.
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