Economy

ELFA: New Business Volume in Equipment Finance Industry Rises 16% Y/Y in October

According to the Equipment Leasing and Finance Association, overall new business volume in the equipment finance industry for October was $10.7 billion, up 16% year over year from new business volume in October 2020. read more

Finance and Insurance Recovering from COVID-19 Effects Faster Than Other Industries

According to a new study from Biz2Credit, businesses in the financial services and insurance industries have recovered the fastest from the effects of the COVID-19 pandemic compared with other industries. read more

ELFF: Equipment Finance Industry Confidence Rises in November

According to the Equipment Leasing & Finance Foundation’s November 2021 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall confidence in the equipment finance market is 64.6, an increase from the October index of 61.1.   read more

Capital One: Middle Market Prioritizing Investment in Technology, Employee Experience

According to new research from Capital One and Morning Consult, 86% of middle market businesses have plans to grow their business by March 2022, with cybersecurity and employee experience among their top investment priorities. read more

Citizens Business Conditions Index Dips Slightly but Remains in Expansionary Territory

Citizens reported that the Citizens Business Conditions Index fell slightly to a mark of 57.1 in Q3/21 from Q2/21’s reading of 57.4. Despite the decrease, Citizens said the third quarter’s reading reflects continued strength in the recovery since COVID-19 stunned the economy and markets in 2020. read more

Equipment Finance Industry Confidence Holds Steady in October

According to the Equipment Leasing & Finance Foundation’s October 2021 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall confidence in the equipment finance market is 61.1, an increase from the September index of 60.5.   read more

Q4 Update to ELFF’s Outlook Forecasts 13.2% Growth in Equipment Investment in 2021

Owing largely to the burst of business activity in the spring and early summer that came in part thanks to rising vaccination rates, equipment and software investment is expected to grow 13.2% this year, according to the Q4 update to the Equipment Leasing & Finance Foundation’s 2021 Equipment Leasing & Finance U.S. Economic Outlook. read more

Small Business Loan Approval Rates Rise at Bank and Non-Bank Lenders in September

Small business loan approval percentages at big banks (or those with $10 billion or more in assets) increased to 14% in September. Meanwhile, approval rates at small banks rose to 19.5% in September from 19.3% the month before, according to Biz2Credit.   read more

ISM: COVID-19 Surge, Labor Shortages Offset Growth in Hospital Economic Activity

Economic activity in the hospital subsector grew in September for the 16th consecutive month, according to the Institute for Supply Management. However, an increase in COVID-19 cases, labor shortages and supply chain disruptions are taking a toll on the sector. read more

ISM: Services Sector Sustains ‘Strong Growth’ in September as Supply Chain Struggles

Economic activity in the services sector grew in September for the 16th month in a row, according to the Institute for Supply Management, although Anthony Nieves of the ISM noted that, “ongoing challenges with labor resources, logistics and materials are affecting the continuity of supply.” read more

Balboa Capital: 43% of Small Business Owners Have Experience Increased Revenues in 2021

According to a survey from Balboa Capital, six in 10 small business owners said their business is performing better in 2021 than it did in 2020 and 43% said they experienced increased revenues during the first three quarters of 2021. read more

Regions Bank: Small Business Owners Aiming to Increase Investments in Key Areas

According to a survey from Regions Bank, roughly nine in 10 businesses (89%) are planning to increase investments in a key business area in the next 12 months. By contrast, in a survey in 2020, only 46% of small business owners said they were planning such investments. read more

ISM: Manufacturing Activity Still Strong as Demand, Labor and Supply Chain Disruptions Mount

Economic activity in the U.S. manufacturing sector grew in September, with the overall U.S. economy notching a 16th consecutive month of growth, according to the latest Manufacturing ISM Report on Business from the Institute for Supply Management. read more

PNC: Small Business Optimism Hits Record High, Gaining Momentum from Vaccines

Business owners are feeling optimistic about the near-term future of their businesses amid increasing vaccination rates, and those who report that more than 75% of their workforce has been vaccinated are the most positive about their outlook, according to a survey from PNC. read more

Amid Rising Delta Variant, Small Businesses Ring the Alarm on Pandemic Recovery

U.S. Small business owners are ringing the alarm about the direction the country is headed and are struggling to manage inflationary pressures, navigate the labor shortage and confront mental health struggles, according to a new survey released from Goldman Sachs.  read more

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Terry Mulreany
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