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As one of the leading providers of commercial leasing equipment leasing in the United States, LeaseQ, reported an increase in industrial production for the sixth consecutive monthly gain. Industrial production rose to 0.4% while manufacturing output progressed to 1.0%, spelling good things for the equipment leasing industry.
(PRWEB) August 29, 2014
Last week, the Fed reported an increase in industrial production for the sixth consecutive monthly gain. Industrial production rose to 0.4% while manufacturing output progressed to 1.0%.
This increase in industrial production is the single largest boost since February this year. Capacity use has increased by more than half a percentage point since February as well an increase that could be attributed to the boost in vehicle production. Capacity utilization rose to a 79.2% rate, which is a measure of slack across the industries.
Output in other parts of the manufacturing sector jumped to 0.4% while the production of motor vehicle parts rose to 10.1%. Production at mines experienced a 0.3%, which is its 9th successive monthly increase moving up to 0.3%. Since the weather was milder than expected for July, the output of utilities dropped by 3.4% as the demand for air conditioning reduced.
This increase in activity in the manufacturing and industrial sector has had a positive impact on the equipment leasing and finance industry. LeaseQ is one of the equipment leasing companies that have experienced an increase in activity on their online leasing platform.
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High spending from businesses and consumers after a rough winter has significantly boosted factory production as well. With this increase, LeaseQ has seen a significant increase in its industrial leasing sector, leading Vernon Tirey, founder and CEO of LeaseQ to remain optimistic about the short and long term prospects for the American economy.
Although Tirey did witness a steady pickup in business investment in the current quarter, he expressed doubt as to whether the economy can sustain a torrid pace of long term growth. Said Tirey, Many economists project a rise in the interest rates in the next few months which could potentially hurt industries such as the auto market. They also expect the economy to grow by 3% in the quarter that began in July. Companies have restocked shelves to meet the increasing demand from consumers as manufacturers have rebounded in recent months. This could signal a potential slowdown in the coming months. Having said that, we in the equipment leasing sector remain optimistic for the long term prospects of the industry and the American economy in general.
Said Tirey, Firms are operating at a higher capacity which could signal an increase in the demand for more equipment. Despite the encouraging gains this July, economic uncertainty still remains a major restricting factor. Manufacturers are turning towards equipment leasing because it involves lower payments. Contractors can upgrade their equipment models with less capital.
Free Instant Quotes With LeaseQ
LeaseQ has an online platform where interested lessees can compare payment plans. They can choose the best payment plans and view all related fees by comparing and prioritizing quotes. It takes less than a minute for users to get pre-qualified quotes. Users are not obligated to apply for a lease once they get a pre-qualified quote. They also do not have to worry about their credit score because LeaseQ conducts soft credit pulls which have zero impact on credit scores.
With hundreds of leading finance companies in more than 25 equipment market segments, potential lessees can be assured of competitive quotes across a broad spectrum of financial needs.
Based in Boston, MA, LeaseQ offers a wide variety of options designed to assist business startups as well as Fortune 500 companies. They are one of the leading providers of commercial and business leasing in North America. Visit them at https://www.leaseq.com
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