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 healthy growth and maintaining some momentum into early 2023, equipment and software investment softened to 2 percent annualized growth in Q4 and remains under pressure,” said Nancy Pistorio, foundation chair and president of Madison Capital. “The economy is still above water, but most indicators point to slowing growth, and many economists continue to expect a recession to begin later this year. Should that come to pass, I also expect the equipment finance industry will demonstrate its characteristic resilience, innovation, and resolve, and will continue to serve the financial needs of our customers regardless of the economic climate.” READ FULL ARTICLE>