Construction Equipment Sales Projected to Remain Steady
The third quarter update from the Equipment Leasing & Finance Foundation's U.S. outlook forecasts investments in equipment and software to grow 5 percent this year. Construction machinery investment growth should remain steady over the next three to six months, the foundation reported, while other sectors don't look quite as bright.
In a news release providing an overview of the report (you can find the report here), the organization said that as the U.S. economy rebounds from a disappointing start to the year, business confidence will improve and encourage greater investment over the second half of 2015.
The Foundation’s Economic Outlook, focused on the $903 billion equipment leasing and finance industry, forecasts 2015 equipment investment and capital spending in the United States and evaluates the effects of various industry and external factors likely to affect growth over the next 12 months.
Study highlights include:
• Investment in equipment and software is expected to grow 5 percent in 2015, down from 5.8 percent in 2014.
• GDP is expected to grow 2.6 percent in 2015.
• Credit availability and demand continue to gradually rise.
Looking specifically at some of the verticals analyzed:
o Agriculture machinery investment growth will likely remain weak or negative over the next three to six months.
o Construction machinery investment growth should remain steady over the next three to six months.
o Materials handling equipment investment growth could slow over the next three to six months.
o All other industrial equipment investment growth may decline further over the next three to six months.
o Mining and oilfield machinery investment should remain weak over the next three to six months.
Click here for more inforrmation about the Equipment Leasing & Finance Foundation,
PRO CONTRACTOR RENTALS MAGAZINE
Pro Contractor Rentals provides information of value to rental centers who focus time, resources and attention on meeting the demands of construction contractors and other equipment rental customers.
