Q2 Economic Outlook Report shows steady growth.
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Press Release Summary:
Q2 2012 Equipment Leasing and Finance U.S. Economic Outlook forecasts healthy growth year over year, even though projected growth for 2012 slowed to 7% from previous 9%. Decline is due to slight downgrade of growth prospects, including expectancy that high oil prices will be significant drag. Report focuses on $628 billion industry and forecasts equipment investment and capital spending in USA and evaluates effects on various related and exogenous factors in play currently and into future.
Original Press Release:
Q2 Economic Outlook Report: Steady but Slower Growth in Equipment Investment as High Oil Prices Drag Down Multiple Positive Trends
Washington, DC -- The Equipment Leasing & Finance Foundation (the Foundation) releases the first quarterly update to its 2012 Equipment Leasing & Finance U.S. Economic Outlook today. The report is focused on the $628 billion industry and forecasts equipment investment and capital spending in the United States, and evaluates the effects on various related and exogenous factors in play currently and into the foreseeable future. The Q2 Outlook forecasts healthy growth year over year, although the projected growth for 2012 has slowed to 7 percent from the previous outlook of 9 percent. This decline is due to a slight downgrade of growth prospects, including the expectation that high oil prices will be a significant drag, particularly during the first two quarters of the year.
"The Equipment Leasing & Finance U.S. Economic Outlook complements the Foundation's Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) and the Equipment Leasing and Finance Association's Monthly Leasing and Finance Index (MLFI-25) in providing a forward-looking projection of industry and economic conditions affecting the $628 billion equipment finance sector from the historical, present and future perspectives," said William G. Sutton, CAE, President of the Foundation and President and CEO of the Equipment Leasing and Finance Association.
"While the recent MCI and MLFI Indexes have reported an increase in confidence and continued growth, the steady but slower growth rate reported in this new Outlook reflects the impact external factors have on equipment investment over a broader stretch of time." Sutton added "We remain cautiously optimistic."
Key findings 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 report will continue to be updated quarterly throughout 2012.
Download the full report at http://www.leasefoundation.org/IndRsrcs/EO/.
The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization that provides vision for the equipment leasing and finance industry through future-focused information and research. Funded through charitable individual and corporate donations, the Foundation is the only organization dedicated to future-oriented, in-depth, independent research for the leasing industry. Visit the Foundation online at www.LeaseFoundation.org.
Media contact: Kelli Nienaber, 202-238-3429, knienaber@leasefoundation.org