Equipment Finance Industry Confidence Steady for Fifth Consecutive Month

The Equipment Leasing & Finance Foundation (the Foundation) recently released its October 2025 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), revealing confidence in the equipment finance market is at a heightened level for the fifth consecutive month. The index, which provides a qualitative assessment from key executives in the $1.3 trillion sector, was relatively unchanged at 60.1 in October, from 59.9 in September.

October 2025 Survey Results:

• Business Conditions – When assessing the next four months, 37.5% of responding executives believe business conditions will improve (up from 30.4% in September). The majority (54.2%) believe business conditions will remain the same (up from 52.2% in September) and 8.3% believe business conditions will worsen (down sharply from 17.4% in September).
• Capex Demand – For the next four months, 37.5% of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase (down from 39.1% in September). Additionally, 54.2% expect demand to remain the same (up from 39.1%), and 8.3% believe demand will decline (down from 21.7% in September).
• Access to Capital – Over the next four months, 25% of respondents expect greater access to capital to fund equipment acquisitions, an increase from 21.7% in September. The majority (75%) anticipate the “same” access to capital to fund business, down from 78.3% the previous month. None expect “less” access to capital, unchanged from September.
• Employment – Regarding employment over the next four months, 25% of executives expect to hire more employees, a decrease from 36.4% in September. Also, 66.7% foresee no change in headcount (up from 54.6% last month), and 8.3% expect to hire fewer employees, down from 9.1% in September.
• U.S. Economy – Of the respondents, none evaluate the current U.S. economy as “excellent,” down from 8.7% in September; 100% assess it as “fair,” up from 91.3% last month; and none evaluate it as “poor,” unchanged from September.
• Economic Outlook – Over the next six months, 30.4% of respondents believe that U.S. economic conditions will “get better,” a decrease from 39.1% in September. Another 39.1% expect the U.S. economy to “stay the same” (up from 30.4%), and 30.4% believe economic conditions will worsen, unchanged from last month.
• Business Development Spending – Over the next six months, 29.2% of respondents believe their company will increase spending on business development activities, down from 34.8% in September. Those who believe there will be “no change” in business development spending increased to 66.7% (from 65.2% in September), and 4.2% believe there will be a decrease in spending (up from none last month).