The Equipment Leasing & Finance Foundation’s Monthly Confidence Index for the equipment finance industry for May is 59.2, down slightly from the April index of 62.1, reflecting uncertainty about the pace of U.S. economic growth and concerns about global political and economic factors.

The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $628 billion equipment finance sector.

“Demand for loans and leases in the industries we serve remains closely tied to external economic factors and conditions, many of which remain volatile and uncertain for the remainder of 2012,” said Russ Nelson, Farm Credit Leasing president. “Year-to-date activity for equipment has remained strong, and we are cautiously optimistic concerning the next eight months.”