Equipment finance confidence eases 

News Story
- 24 Mar 2022 ( #1069 ) - Washington, DC, United States
1 min read
Less financial confidence
Less financial confidence

Confidence in the equipment finance market fell last month, according to the latest Confidence Index for the Equipment Finance Industry (MCI-EFI).

Overall, confidence in the equipment finance market is 58.2, easing from the February index of 61.8.

One of the main factors impacting on confidence is the war in Ukraine.

Survey respondent Michael Romanowski, president of Farm Credit Leasing, says: “Supply chain issues continue to hamper equipment availability. The Ukraine conflict has enhanced volatility and is contributing to an already unsettled environment.”

When asked to assess their business conditions over the next four months, 21.4% of executives (slightly fewer than February’s 24.1%) believe business conditions will improve. Half of the respondents think conditions will stay the same (down from 69% the previous month).

“While equity markets, crude (oil), supply chain and global industry trade have all been greatly impacted by the Russian invasion of Ukraine, it is the suffering and loss of life that is most disturbing,” says respondent Adam Warner, president of Key Equipment Finance.

One source of optimism was identified by James D. Jenks, CEO, Global Finance and Leasing Services: “Through 2021, often businesses used their federal government stimulus money to purchase capital equipment and services. The deeper we get into 2022, increasingly, these businesses will return to financing their capital equipment purchases.” 

The confidence index is an initiative of the Equipment Leasing & Finance Foundation.

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