After its strongest growth in over a decade in 2021 and solid performance in Q1, equipment and software investment growth of 4.2 percent is forecast for 2022.
Owing largely to the burst of business activity in the spring and early summer that came in part thanks to rising vaccination rates, annual equipment and software investment growth of 13.2 percent is forecast for 2021, according to the Q4 update to the 2021 Equipment Leasing & Finance U.S. Economic Outlook from the Equipment Leasing & Finance Foundation.
2021 Economic Outlook Now Projects 6 1% GDP Growth, 13 3% Rise in Capital Investments forconstructionpros.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forconstructionpros.com Daily Mail and Mail on Sunday newspapers.
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.