Economic outlook forecasts 3% growth In equipment and software investment

Published online: Dec 12, 2016 News
Viewed 947 time(s)

Investment in equipment and software is expected to grow 3.0% in 2017, according to the Annual 2017 Equipment Leasing & Finance U.S. Economic Outlook released Monday by the Equipment Leasing & Finance Foundation.

After a likely contraction in 2016, equipment and software investment is on track to improve in 2017. According to the Outlook, while persistent global headwinds and policy uncertainty are ongoing concerns, the U.S. economy’s fundamentals are generally solid, and rising business confidence should lead to increased investment. The foundation’s report, which is focused on the $1 trillion equipment leasing and finance industry, highlights key trends in equipment investment and places them in the context of the broader U.S. economic climate. The report will be updated quarterly throughout 2017.

Ralph Petta, president of the foundation and president and CEO of the Equipment Leasing and Finance Association, said, “With the elections over and key policy decisions beginning to take shape, the cloud of uncertainty hanging over businesses’ decisions to invest appears to be lifting. Business confidence in the future of the U.S. economy is on the rise. Unemployment is slowly decreasing, housing prices are improving, and the securities markets are in all-time record territory. This more positive economic news during the second half of 2016 seems to indicate that GDP is poised for solid, if unspectacular, growth. We are hoping that the spillover effect is a strong equipment finance industry in 2017.”   

Access the full report at www.leasefoundation.org/research/eo/.