INDUSTRY NEWS
INDUSTRY NEWS
US Economy Set for Growth in 2025, Projects 4.7 % Investment Expansion and 2.7 % GDP Increase
The U. S. economy is poised for continued expansion in 2025, buoyed by a resilient labor market, increasing household wealth and robust consumer spending, according to the 2025 Equipment Leasing & Finance U. S. Economic Outlook.
Released by the Equipment Leasing & Finance Foundation, the report anticipates a 4.7 % growth in real equipment and software investment, complemented by a projected 2.7 % rise in real GDP.
The Foundation’ s study, prepared by Keybridge, examines trends within the $ 1.3 trillion equipment leasing and finance sector, contextualizing its findings within the broader economic landscape.
“ The economy blew past expectations in 2024 as strong consumer spending and business investment pushed growth above trends experienced prior to the pandemic. Data on new loan volume from Equipment Leasing & Finance Association’ s( ELFA) CapEx Finance Index and executive sentiment in the Foundation’ s Monthly Confidence Index suggest that momentum carried through to the fourth quarter,
and lines the economy up for a strong 2025,” Leigh Lytle, president of the Foundation, and president & CEO of ELFA said.
“ That said, the potential for a trade war and persistent inflation could cause the Federal Reserve to slow the pace of rate decreases, which would weigh on the U. S. economy. Time will tell how all of these things shake out, but if we’ ve learned one thing from 2024, it’ s to never bet against the strength of American consumers or the resiliency of American business.”
Metso Begins Expansion of Arizona Service Center and Training Facility
Metso has broken ground on an expanded service center and a new training facility in Mesa, Arizona. The expansion aims to meet the growing needs of mining customers, offering increased repair capabilities, advanced training programs and improved safety and sustainability measures.
“ Our expanded service center and innovative training facility in Arizona will significantly boost our ability to support customers with comprehensive and reliable services," Giuseppe Campanelli, president, North and Central America, Metso said.
" The facilities will address labor shortages by equipping Metso as well as customers’ employees with the latest skills and technologies."
The project, with an estimated cost of $ 14 million, will increase the repair shop’ s capacity by nearly 60 %, supporting a range of mining equipment, including crushers, screens and slurry systems.
A training center will feature digital tools like the Metso Geminex simulator and hands-on learning spaces to enhance workforce skills and safety.
Scheduled to open in late 2025, the facility will create skilled job opportunities while incorporating energy- and water-efficient upgrades.
24 January 24, 2025 www. contractorshotline. com