{"id":10830,"date":"2022-10-27T01:54:43","date_gmt":"2022-10-27T01:54:43","guid":{"rendered":"https:\/\/www.findadistributor.com\/news\/?p=10830"},"modified":"2022-10-25T10:57:25","modified_gmt":"2022-10-25T10:57:25","slug":"equipment-finance-update","status":"publish","type":"post","link":"https:\/\/www.findadistributor.com\/news\/equipment-finance-update\/","title":{"rendered":"Equipment Finance Update"},"content":{"rendered":"<p>The\u00a0Equipment Leasing &amp; Finance Foundation has released the October 2022\u00a0Monthly Confidence Index for the Equipment Finance Industry\u00a0(MCI-EFI).<\/p>\n<p>The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector. Overall, confidence in the equipment finance market is 45, a decrease from the September index of 48.7.<\/p>\n<p>When asked about the outlook for the future, MCI-EFI survey respondent\u00a0David Normandin, CLFP, President and CEO, Wintrust Specialty Finance,\u00a0said, \u201cI am optimistic about our industry and our customers finding solutions to manage challenging economic conditions. As the rate of change increases, I think that our industry is well positioned to adapt and continue to find ways to win.\u201d<\/p>\n<div id=\"attachment_10222\" style=\"width: 1116px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-10222\" class=\"size-full wp-image-10222\" src=\"https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/04\/Screenshot-2022-04-12-at-14.55.39.png\" alt=\"\" width=\"1106\" height=\"486\" srcset=\"https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/04\/Screenshot-2022-04-12-at-14.55.39.png 1106w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/04\/Screenshot-2022-04-12-at-14.55.39-768x337.png 768w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/04\/Screenshot-2022-04-12-at-14.55.39-400x176.png 400w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/04\/Screenshot-2022-04-12-at-14.55.39-440x193.png 440w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/04\/Screenshot-2022-04-12-at-14.55.39-650x286.png 650w, https:\/\/www.findadistributor.com\/news\/wp-content\/uploads\/2022\/04\/Screenshot-2022-04-12-at-14.55.39-865x380.png 865w\" sizes=\"auto, (max-width: 1106px) 100vw, 1106px\" \/><p id=\"caption-attachment-10222\" class=\"wp-caption-text\">Established in 1989, the Equipment Leasing &amp; Finance Foundation is a 501c3 non-profit organization dedicated to inspiring thoughtful innovation and contributing to the betterment of the equipment leasing and finance industry.<\/p><\/div>\n<p><strong>October 2022 Survey Results:<\/strong><\/p>\n<ul>\n<li>The overall MCI-EFI is 45, a decrease from the September index of 48.7.<\/li>\n<li>When asked to assess their business conditions over the next four months, none of the executives responding said they believe business conditions will improve over the next four months, a decrease from 3.6% in September. 62.5% believe business conditions will remain the same over the next four months, down from 75% the previous month. 37.5% believe business conditions will worsen, an increase from 21.4% in September.<\/li>\n<li>8.3% of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, a decrease from 10.7% in September. 66.7% believe demand will \u201cremain the same\u201d during the same four-month time period, a decrease from 71.4% the previous month. 25% believe demand will decline, up from 17.9% in September.<\/li>\n<li>4.2% of the respondents expect more access to capital to fund equipment acquisitions over the next four months, down from 14.3% in September. 87.5% of executives indicate they expect the \u201csame\u201d access to capital to fund business, an increase from 71.4% last month. 8.3% expect \u201cless\u201d access to capital, down from 14.3% the previous month.<\/li>\n<li>When asked, 29.2% of the executives report they expect to hire more employees over the next four months, up from 28.6% in September. 66.7% expect no change in headcount over the next four months, an increase from 64.3% last month. 4.2% expect to hire fewer employees, down from 7.1% in September.<\/li>\n<li>8.3% of the leadership evaluate the current U.S. economy as \u201cexcellent,\u201d an increase from 7.1% the previous month. 66.7% of the leadership evaluate the current U.S. economy as \u201cfair,\u201d down from 71.4% in September. 25% evaluate it as \u201cpoor,\u201d an increase from 21.4% last month.<\/li>\n<li>None of the survey respondents believe that U.S. economic conditions will get \u201cbetter\u201d over the next six months, a decrease from 7.1% in September. 41.7% indicate they believe the U.S. economy will \u201cstay the same\u201d over the next six months, an increase from 39.3% last month. 58.3% believe economic conditions in the U.S. will worsen over the next six months, an increase from 53.6% the previous month.<\/li>\n<li>In October 25% of respondents indicate they believe their company will increase spending on business development activities during the next six months, down from 28.6% the previous month. 70.8% believe there will be \u201cno change\u201d in business development spending, down from 71.4% in September. 4.2% believe there will be a decrease in spending, an increase from none last month.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0Equipment Leasing &amp; Finance Foundation has released the October 2022\u00a0Monthly Confidence Index for the Equipment Finance Industry\u00a0(MCI-EFI). The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector. Overall, confidence in the equipment finance market is 45,&#8230; <a href=\"https:\/\/www.findadistributor.com\/news\/equipment-finance-update\/\" class=\"excerpt-read-more\">Read More<\/a><\/p>\n","protected":false},"author":3,"featured_media":10222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16,10],"tags":[6554,1611,2074,1610,157,106,6553,62],"class_list":["post-10830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homepage-featured","category-news","tag-equipment-finance","tag-equipment-leasing","tag-equipment-leasing-finance","tag-equipment-leasing-finance-foundation","tag-logistics","tag-material-handling","tag-mci-efi","tag-supply-chain"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Equipment Finance Update - Find A Distributor Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.findadistributor.com\/news\/equipment-finance-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Equipment Finance Update - Find A Distributor Blog\" \/>\n<meta property=\"og:description\" content=\"The\u00a0Equipment Leasing &amp; Finance Foundation has released the October 2022\u00a0Monthly Confidence Index for the Equipment Finance Industry\u00a0(MCI-EFI). The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector. Overall, confidence in the equipment finance market is 45,... 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