New business volume in the second quarter experienced very marginal impacts, down only one percent year-over-year, despite rising interest rates and continued economic volatility. However, leaders across banks and independent financing institutions have optimistic outlooks for the remainder of 2022 with goals to expand portfolios. Inflationary pressure and supply chain challenges continue as industry headwinds into the third quarter.
The Equipment Leasing & Finance Foundation measures confidence among industry leaders every month. Following a continued decline in 2022, sector confidence among industry leaders experienced a slight increase month-over-month from 49.6 to 50.9 as of June. The group is anticipating growth acceleration throughout the second half of 2022.