Equipment Leasing & Finance Foundation Releases Economic Report

By Sarah Webb, Equipment Leasing & Finance Foundation Equipment and software investment growth slowed in early 2023, resulting in the Equipment Leasing & Finance Foundation lowering its annual forecast for investment growth to 1 percent, according to the Q2 update to the 2023 Equipment Leasing & Finance U.S. Economic Outlook. “Despite the U.S. economy ending 2022 with […]

Q1 Update on Equipment Rental Rates

Source: Economics Group of Wells Fargo Bank, N.A.The EquipmentWatch Q1 Rental Update is available now. For most types of equipment, the market was stable with rental rates showing modest increases overall. Here are some notable takeaways: READ FULL ARTICLE>

Present Situation Improves Even as Confidence and Expectations Fall

Source: Economics Group of Wells Fargo Bank, N.A.Summary Our forecast anticipates a resilient consumer eventually losing steam later this year, helping to drive the economy into a recession. This theme was on display in this latest report which shows the present situation improving even as overall confidence and expectations fall. It Has Not Been an Easy Couple […]

And the Bottom Drops Out: LEI Digs Even Deeper

Source: Economics Group of Wells Fargo Bank, N.A.Summary The sharp drop in the March LEI adds to a string of declines that marks the sharpest reversal on record outside of a recession. The index continues to present a clear message that recession is ahead. LEI Suggests We Brace for Impact The Leading Economic Index (LEI) continues to signal […]

Construction Among Industries at Greatest Risk for Job Cuts, Index Says

By Jordanne Waldschmidt | Could a looming recession be another arrow in the back for the construction industry’s already critical labor shortage? Construction is estimated to have the third-highest risk for job losses in the next few months, behind information services and transportation and warehousing, according to the latest Job Loss Risk Index from The Conference Board, […]

Equipment Rental Prices Expected to Continue to Rise — But Not as Much

By Ryan Whisner | Most equipment rental companies anticipate 2023 to continue the strength shown in 2022, amid the market volatility. According to the American Rental Association (ARA), the U.S. equipment rental revenue surpassed pre-pandemic highs in 2022, with a 13.5% year-over-year increase totaling $56.1 billion. This compared to an 11% growth in 2022, which ended at […]

Housing Starts Decline Slightly in March

Multifamily Drop Offsets Single-Family Strength Source: Economics Group of Wells Fargo Bank, N.A. Summary Strong Start to Spring Selling Season Bolsters Single-Family Construction Total housing starts fell 0.8% to a 1.42 million-unit pace during March. February’s strong gain was revised slightly lower to a 1.432 million unit pace.The overall drop in residential construction owed entirely to […]

Rise in March Industrial Production Masks Manufacturing Weakness

Source: Economics Group of Wells Fargo Bank, N.A.Summary The 0.4% rise in March industrial production was due entirely to a jump in utilities production after weather-related weakness in February. Manufacturing output declined and continued to demonstrate a stalling in the sector. Manufacturing Pullback In Train Overall industrial production rose 0.4%, though growth was due entirely to an outsized […]

Ritchie Bros. Asset Solutions

Source: Ritchie Bros. April report, takes a deep dive into Q1 2023 results, including pricing & volume trends for most major construction, aerial, and transportation equipment categories. In the United States, they saw volumes increase for many major equipment categories, including excavators, articulated dump trucks, multi terrain loaders, scissor lifts, and truck tractors. In many […]

Rising Cost of Capital is a Threat to Construction, ABC Economist Says

By Ryan Whisner | Construction contractors are maintaining a strong sense of good profitability and growth in 2023 based on a current slate of seemingly full backlogs. Associated Builders and Contractors Chief Economist Anirban Basu suggested during his 2023 Q1 construction economic update and forecast that the contractors simply “can’t handle the truth,” as Jack Nicholson’s […]