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Downgraded: Industry Growth Forecast For 2016

The Equipment Leasing & Finance Foundation has released its Q3 update to the 2016 Equipment Leasing & Finance U.S. Economic Outlook, reducing the year's growth expectations to just 0.9%. In December 2015, the Foundation originally issued a 4.4% growth forecast for the 2016 Annual Outlook for equipment and software investment, which was then revised to down to 2.7% in the Q2 update.

Reasons for Downgrade

The Foundation cites a combination of slow growth in the global economy, a contraction in trade, heightened political uncertainty and low commodity prices as the reasons for the slowing growth in business investment.

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