The monthly index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $900 billion equipment finance sector. Overall, confidence in the equipment finance market is 72.1, easing from April’s all-time high of 76.1

The Equipment Leasing and Finance Assn.’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $900 billion equipment finance sector, showed their overall new business volume for March was $9.3 billion.

Experts explain how artificial intelligence, blockchain and smart contracts can benefit equipment financing — and encourage dealers to learn about the technologies and seek out financing partners who are doing the same.

Artificial intelligence, blockchain and smart contracts are three kinds of technology improving processes and outcomes in other industries, but which are not yet available for equipment financing. Two experts say it’s time that equipment dealers demand this tech of their financing partners.

Sales of new construction equipment have been on an upward trend in recent years, but the rapid growth of rental has been eroding some of that acceleration, according to the Equipment Leasing & Finance Foundation's 2018-2019 Vertical Market Series report on the construction segment.

The study, commissioned by the Equipment Leasing & Finance Foundation and prepared by ORC International, indicates that the all-time high in construction spending in 2017 will carry through in 2018, with predicted U.S. construction industry growth of 5%.