Q2 Update to 2021 Economic Outlook Forecasts 11.2% Expansion in Equipment and Software …

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here. WASHINGTON, April 14, 2021 (GLOBE NEWSWIRE) — With U.S. vaccination rates rising quickly and the end of the pandemic in sight, equipment and software investment growth is expected to be robust this year as businesses invest to adapt to a post-pandemic normal. Annual equipment and software investment growth of 11.2 percent is forecast for 2021. Annual U.S. GDP growth for 2021 is forecast at 5.7 percent, according to the Q2 update to the 2021 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation. Scott Thacker, Foundation Chair and Chief Executive Officer of Ivory Consulting Corporation, said, “Finally, we are beginning to see the light at the end of the tunnel. The widespread availability of vaccinations offers hope that economic activity will soon return to pre-pandemic levels, or beyond. The robust stimulus efforts, along with trillions of dollars in pent-up demand, point to a wave of spending this summer and fall. All indicators point to 2021 being a banner year for equipment and software investment, and the equipment finance industry is poised to benefit from that expected economic activity.” Highlights from…
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