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Higher Industry Growth Forecast for 2017
The Equipment Leasing & Finance Foundation has released its Q3 update to the 2017 Equipment Leasing & Finance U.S. Economic Outlook, which increased its yearly equipment and software investment forecast to 3.6%, up from 2.8% growth forecast in its 2017 Annual Outlook released in April.
The report predicts that equipment and software investment should continue to bounce back from a lackluster 2016 after a solid start in the first quarter of 2017, driven by overall improvements in business confidence and a more positive outlook for the industrial sector. 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.
Key Findings
Equipment and software investment experienced a bright first quarter of 2017 growing at an annualized rate of 7.4%, its strongest pace in two years. Stabilized oil prices, improved business confidence and credit market stability should lead to solid investment growth of 3.6% in 2017, a significant improvement over 2016.
U.S. economic growth in the second half of 2017 is likely to yield a notable improvement on first quarter growth of just 1.4% due to a rebound in consumer spending, solidly positive business investment and a strengthening global economy. Overall, the U.S. economy is projected to grow 2.4% in 2017 — a slight downgrade from 2.5% in the Foundation's Q2 forecast, but still a significant improvement over 1.6% growth in 2016.
Though 2017 is shaping up to be a better year for U.S. economic growth than 2016, headwinds to watch include U.S. trade policy uncertainty and budget battles. Continued political gridlock also makes it increasingly unlikely that Congress will agree on major pro-growth legislation such as tax cuts or infrastructure spending in 2017.
The Equipment Leasing & Finance Foundation has released its Q3 update to the 2017 Equipment Leasing & Finance U.S. Economic Outlook, which increased its yearly equipment and software investment forecast to 3.6%, up from 2.8% growth forecast in its 2017 Annual Outlook released in April.
The report predicts that equipment and software investment should continue to bounce back from a lackluster 2016 after a solid start in the first quarter of 2017, driven by overall improvements in business confidence and a more positive outlook for the industrial sector. 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.
Key Findings
Equipment and software investment experienced a bright first quarter of 2017 growing at an annualized rate of 7.4%, its strongest pace in two years. Stabilized oil prices, improved business confidence and credit market stability should lead to solid investment growth of 3.6% in 2017, a significant improvement over 2016.
U.S. economic growth in the second half of 2017 is likely to yield a notable improvement on first quarter growth of just 1.4% due to a rebound in consumer spending, solidly positive business investment and a strengthening global economy. Overall, the U.S. economy is projected to grow 2.4% in 2017 — a slight downgrade from 2.5% in the Foundation's Q2 forecast, but still a significant improvement over 1.6% growth in 2016.
Though 2017 is shaping up to be a better year for U.S. economic growth than 2016, headwinds to watch include U.S. trade policy uncertainty and budget battles. Continued political gridlock also makes it increasingly unlikely that Congress will agree on major pro-growth legislation such as tax cuts or infrastructure spending in 2017.
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