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2021 Economic Outlook Now Projects 6 1% GDP Growth, 13 3% Rise in Capital Investments
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Equipment Investment Forecast to Grow for Remainder of Year
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SHARE 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
Forecast also expects 4.7% GDP growth despite uneven economic recovery in the face of the pandemic.
December 16, 2020
Equipment and software investment growth fared better than overall GDP growth in 2020 as businesses invested to adapt to the COVID-19 pandemic, and growth should remain well into positive territory in the beginning of 2021. Annual equipment and software investment growth of 7.8% is forecast for 2021. Annual U.S. GDP growth for 2021 is forecast at 4.7%, according to the 2021 Equipment Leasing & Finance U.S. Economic Outlook released by the Equipment Leasing & Finance Foundation.
Scott Thacker, foundation chair and CEO of Ivory Consulting Corporation, said, “This update, while reflecting widely disparate performance in various segments of the economy, indicates the worst of the economic downturn appears to be in the rearview mirror although that does not mean the road ahead is clear.