After four months of decline, confidence in the US equipment finance market rose in August, month-on-month, according to the Equipment Leasing & Finance Foundation.

Confidence was indexed at 67.4 by the foundation in August through its monthly confidence index for the equipment finance industry (MCI-EFI), a significant increase compared to the July’s index of 62.4.

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When asked to assess their business conditions over the next four months, 36.4% of respondents said they believed business conditions would improve over the next four months, up from 17.2% in July. The rest said business conditions would remain the same over this period.

40.9% of the executives believed demand for leases and loans to fund capital expenditures would increase over the next four months, up from 20.7% in July. No one felt demand would decline, as the rest anticipated demand to ‘remain the same’.

In addition, 36.4% of survey respondents reported that they expected to hire more employees over the next four months, a decrease from 51.7% in July. The rest expected no change in headcount over the next four months.

Valerie Hayes Jester, president at Brandywine Capital Associates said: "Demand has stayed strong through the summer. The threat of potentially increasing interest rates and projects that have been delayed for too long have been principal motivators for our customers. I feel optimism is fueled by economic conditions improving and by consumer sentiment that seems to echo that positive attitude."

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The survey uses the same pool of 50 US organisation leaders to respond monthly to a set of questions.