According to the Monthly Confidence Index from the Equipment Leasing & Finance Foundation, overall confidence in the equipment finance market in July (62.6) remained largely in step with the same reading from June (63.0).

Although the overall confidence has not changed, the survey revealed some underlying concerns in the industry. In July, 6.9% of respondents believe business conditions will worsen and that demand for leases and loans to fund capital expenditures will decrease, after none responded in such a way in both areas last month. In addition, 3.5% of respondents rated the economy as poor, although there was a sizable jump in those that rated it as excellent in July (13.8%) compared to June (3.6%).

That confidence in the economy may explain while 48.3% of respondents indicated that their companies will increase spend on business development activities in the next six months, after only 35.7% said so in June.

Read the full release from the ELFF here.