According to the 2024 Equipment Leasing & Finance U.S. Economic Outlook Q2 Update, released by the Equipment Leasing & Finance Foundation in
April, real equipment and software investment growth is projected to be
2.2 percent in 2024. The report further states investment activity is
expected to pick up in the latter half of 2024 and forecasts real GDP
growth of 2.3 percent this year, an improvement over the 1.7 percent
growth forecasted in the Foundation’s 2024 Economic Outlook published in
December 2023. Additionally, the report indicates that business lending
standards for Commercial and Industrial loans tightened in Q4 2023 with
a net 15 percent of banks reporting tightening standards for loans to
large- and middle-market firms, and 19 percent reporting tighter
standards for loans to smaller firms.
Equipment Finance Advisor meets with three leaders from
different sectors within the equipment finance industry. The purpose of
these dialogues was to gain insights into their perspectives on this
latest industry report and to illuminate the anticipated direction of
the equipment finance sector. Participants in this dialogue include Peter Bullen, Executive Vice President & Group Head with Key Equipment Finance (Bank-owned); Kathleen Canum, Senior Vice President of Administration with Canon Financial Services (Captive); andShari Williams, Chief Risk Officer with SLR Equipment Finance (Independent).
Read the full Equipment Finance Advisor article.