The Equipment Leasing and Finance Foundation has released the July 2011 Monthly Confidence Index for the Equipment Finance Industry. Overall, confidence in the equipment finance market is 56.2, up 6.8% from the June index of 52.6.
When asked to assess their business conditions over the next four months, 14% of executives responding said they believe business conditions will improve over the next four months, an increase from 5.0% in June. 81.4% of respondents believe business conditions will remain the same over the next four months, an increase from 79.5% in June. 4.7% of executives believe business conditions will worsen, a decrease from 15.4% in June.
14% of survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, an increase from 12.8% in June. 74.4% believe demand will “remain the same” during the same four-month time period, a decrease from 77% the previous month. 11.6% believe demand will decline, up from 10% who believed so in June.
23% of executives expect more access to capital to fund equipment acquisitions over the next four months, flat from June. 76.7% of survey respondents indicate they expect the “same” access to capital to fund business, also flat with the previous month. In the last eight months’ surveys, no one responded that they expect “less” access to capital.
When asked, 32.6% of the executives reported they expect to hire more employees over the next four months, down from 33.3% in June. 58% expect no change in headcount over the next four months, an increase from 53.8% last month, while 9.6% expect fewer employees, a decrease from 12.8% in June.
Learn more about the July 2011 Monthly Confidence Index for the Equipment Finance Industry