According to the Q3/21 update to the Equipment Leasing and Finance Foundation’s 2021 Equipment Leasing & Finance U.S. Economic Outlook, annual equipment and software investment will grow 13.3% in 2021 and annual U.S. GDP growth for 2021 will increase by 6.1%.
“The Q3 update indicates that America is now opening for business quickly,” Scott Thacker, chair of the ELFF and CEO of Ivory Consulting, said. “The evidence illustrated in the outlook points to a booming economy for the second half of the year as long as the pandemic remains in check and despite several potential headwinds which must be monitored carefully. In the shorter term, strong growth for both the economy and the equipment finance industry are expected to be realized this summer.”
Q3 Outlook Update Highlights
According to the Foundation-Keybridge U.S. Equipment & Software Investment Momentum Monitor, which is released in conjunction with the outlook, nine verticals are showing signs of accelerating investment after the pandemic-fueled collapse and three other verticals are showing signs of peaking, although investment growth should remain healthy in the near term. Over the next three to six months, year over year:
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