Rental industry confidence continues to gradually soften in Europe.

The Rental Tracker survey organised by International Rental News magazine and the European Rental Association found that European rental industry confidence continued its gradual downtrend in the second quarter of 2023. Based on responses from more than 125 companies the survey showed that business conditions continued to deteriorate, albeit not dramatically, since the last survey in March.

In reporting on the survey, International Rental News noted that business sentiment showed an overall negative balance of five percent which continues a trend that started near the end of 2021. Utilisation, employment and equipment purchasing intentions all declined in the second quarter.

It must be noted, however, that all of these factors began declining from very high levels and sentiment within the industry still tends to be relatively positive. In short, conditions are moderating across the industry but there was no collapse of confidence anywhere among the survey respondents.