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April 16, 2021
The Equipment Leasing & Financing Association forecasts equipment and software investment growth to rise in 2021.
The Equipment Leasing & Finance Association says equipment and software investment growth is expected to be robust this year with annual equipment and software investment growth forecast at 11.2 percent for 2021.
Also, annual U.S. GDP growth for 2021 is forecast at 5.7 percent according to the Q2 update to the group's 2021 Equipment Leasing & Finance U.S. Economic Outlook.
“Finally, we are beginning to see the light at the end of the tunnel," said Scott Thacker, foundation chair and CEO of Ivory Consulting Corporation. "The widespread availability of vaccinations offers hope that economic activity will soon return to pre-pandemic levels, or beyond. The robust stimulus efforts, along with trillions of dollars in pent-up demand, point to a wave of spending this summer and fall. All indicators point to 2021 being a banner year for equipment and software investment, and the equipment finance industry is poised to benefit from that expected economic activity.”