Equipment leasing association shares its 2015 outlook

The Equipment Leasing and Finance Association (ELFA) expects 2015 to be a breakout year for the U.S. economy, with overall growth expected to top 3 percent.

Although ELFA says 3 percent gross domestic product (GDP) growth was the average pace of growth between 1970 and 2007, the association adds that the U.S. economy has not attained this rate since 2005.

The association says mining and oilfield machinery will likely slow or potentially experience negative growth in investments over the next three to six months, given recent declines in oil prices. In addition, ELFA expects investments in construction machinery to moderate over the first two quarters of the new year. The association does not anticipate much to change in trucking investments over the next three to six months.

Materials handling equipment investment growth may also experience some moderation over the next three to six months, ELFA says, while all other industrial equipment investments will likely remain strong over the same period.