With many economists seeing several sources of strength in the economy, the platform is ripe for economic growth
Cleveland OH (PRWEB) December 19, 2012
LeaseQ, one of the leading providers of equipment leasing and financing options in the United States, is predicting a marked upturn in the US economy in the coming year, provided that representatives in Washington DC do their part. With many economists seeing several sources of strength in the economy, the platform is ripe for economic growth. Of course that may be tempered by decisions in the nation’s capitol over tax increases and spending cuts.
According to the Equipment Leasing and Financing Association (ELFA), Some of the elements at work in the projected recovery include the housing market rebound, the natural gas boom, record profit margins, as well as a friendlier credit market for small businesses and an increasing demand for automobiles and other large ticket items.
Economic growth could be as strong as 3 percent in 2013, a dramatic shift from the sluggish growth of recent years. Estimates for the final quarter of 2012 continue to hover around a fairly weak 1 percent mark.
The improvement of access to credit has done much to raise capital expenditures, with commercial and industrial loans rising in recent months. The number of small business owners who say their credit needs are being met has also been on the increase. Corporate profits also reached a new high, even when adjusted for inflation, during the third quarter of the year. Many of these companies have amassed a great deal of cash that they can use to purchase or lease equipment, or hire people if they are secure in the recovery
The one thing seen by many as a factor in whether or not the recovery is sustainable over the long haul is the decision made by Congress over deep austerity measures. Some economists believe that the economy will slow somewhat even without the spending cuts and tax increases currently being considered. The fiscal tightening at the federal level could produce a drag on growth, throwing the economy back into a recession.
Based in Cleveland OH, LeaseQ is one of the leading providers of equipment leasing and financing options for small businesses and Fortune 500 corporations.