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WASHINGTON, July 11, 2016 (GLOBE NEWSWIRE) -- Investment in equipment and software is expected to grow a sluggish 0.9 percent in 2016, according to the Q3 update to the 2016 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation. The Foundation revised its forecast to 0.9 percent, down from 2.7 percent growth forecast in its Q2 update to the 2016 Economic Outlook released in April. The slow growth in business investment is due to a combination of slow growth in the global economy, a contraction in trade, heightened political uncertainty and low commodity prices. 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.
Ralph Petta, President of the Foundation and President and CEO of the Equipment Leasing and Finance Association, said, “Sluggish growth in equipment and software investment projected over the short term by this latest Foundation analysis is indicative of the slowdown in business fixed investment reported by federal government data over the past several quarters. The equipment finance sector generally mirrors overall performance of the U.S. economy. A number of factors, both domestic and externally focused, cloud the growth picture for the equipment finance industry, and this slow-growth scenario, in all likelihood, will continue for the rest of the year as many ELFA members report soft business conditions.”
Highlights from the study include:
The Foundation will host a one-hour webcast on July 20 at 1 p.m. EDT on the Outlook report and how to use the data to improve business decision-making. To register, email Foundation@LeaseFoundation.org. Learn more at www.leasefoundation.org/research/EO/.
The Foundation produces the Equipment Leasing & Finance U.S. Economic Outlook report in partnership with economic and public policy consulting firm Keybridge Research. The annual economic forecast provides a three-to-six month outlook for industry investment with data, including a summary of investment trends in key equipment markets, credit market conditions, the U.S. macroeconomic outlook and key economic indicators. The Q3 report is the second update to the 2016 Annual Outlook, and will be followed by one more quarterly update before the publication of the 2017 Annual Outlook in December.
Download the full report at www.leasefoundation.org/research/eo/.
The Equipment Leasing & 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. Funded through charitable individual and corporate donations, the Foundation focuses on the development of in-depth, independent research and resources for the advancement of equipment finance industry knowledge. Visit the Foundation online at www.LeaseFoundation.org.
For questions contact:Amy Vogt202email@example.com
Source:Equipment Leasing & Finance Foundation