Financiers pessimistic about US future

News Story
- 24 Nov 2022 ( #1104 ) - Washington, DC, United States
1 min read
More than half predict worsening conditions
More than half predict worsening conditions

The confidence of the US equipment finance sector is falling, with the latest Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) falling. The November confidence index fell to 43.7 from 45 in October.

When asked to assess their business conditions over the next four months, none of the respondents said they believe business conditions will improve over the next four months, unchanged from October, while 46.4% believe business conditions will remain the same over the next four months, down from 62.5% the previous month. Those predicting worse conditions surged to 53.6% from 37.5% in October.

Asked about the state of the US economy, 3.6% evaluate the current state as “excellent,” a decrease from 8.3% the previous month, while the bulk (75%) evaluate the current US economy as “fair,” up from 66.7% in October. Some 21.4% evaluate it as “poor,” a decrease from 25% last month. 

None of the survey respondents believe that US economic conditions will get better over the next six months, while 71.4% believe conditions will worsen - an increase from 58.3% the previous month.

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