The second quarter update of the Equipment Leasing & Finance Association’s (ELFA) 2024 Equipment Leasing & Finance U.S. Economic Outlook report envisions accelerating growth for the leasing and finance industry. That’s based on forecast growth of 2.2 percent in equipment and software (E&S) investment and a 2.3 percent growth in Gross Domestic Product (GDP).
A recent article in Pro Contractor Rentals noted that the ELFA report anticipates a “soft landing” for the U.S. economy and accelerating growth as the year progresses despite negative E&S investment in the last two quarters. An analysis of 12 major E&S vertical markets forecast that over the next two quarters five will be expanding, three will be weakening, two are recovering and two are expected to remain the same.
The 2.3 percent GDP growth in the second quarter update is an improvement over the 1.7 percent growth projected in the Outlook published in December 2023.
Reporting says a slowing economy saw sales decline by 21 percent in 2024.
Learn MoreVarious industry groups are reporting the signals to be very mixed.
Read moreAn influencer can link OEMs with the people who will use the equipment.
Read moreThe rental market is influencing new mini excavator design.
Read moreSunbelt Rentals will be the official equipment provider for the games.
Read moreWhat impact will the recently announced 25 percent U.S. tariffs have on the global generator set market?
Read moreA recent article in Compact Equipment magazine explored the difference and offered some guidelines for selecting the best balance for various applications.
Read moreThe Construction Index reports that April marked the third consecutive month of construction output growth in Great Britain according to the Office for National Statistics.
Read more
