The German leasing market grew 3.6% in the
first half of 2012 compared with the same period last year,
recording an estimated €20.3bn in new business, according to the
German leasing association, the BDL.

The first half-year growth in Europe’s largest
leasing market was described as “a good result for the industry” by
BDL chief executive Horst Fittler, especially given the 15%
year-on-year growth experienced in 2011.

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New business growth was driven by the vehicle
leasing sector which grew 8.4% year-on-year for the period.

Leasing in the office and IT sector fell by
10.7% year-on-year which Fittler said was a serious signal of the
reluctant mood within German companies because IT equipment is
often the first to sector to falter when equipment investment
falters.

Production machinery, which saw 21% growth in 2011, declined
1.1% over the first six months of this year. Given the strong
performance of this sector last year, Fittler dismissed the
marginal decline and said he was not surprised at a lack of growth
following such as boom.

Expectations decline

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Fittler warned the development of German
leasing business in the second half of the year will depend heavily
on the confidence in the stability of the euro area and the
associated willingness to invest.

The Munich-based Ifo Institute for Economic
Research’s investment indicator, published in July, predicted 3%
growth in capital spending overall for 2012 with a majority of
businesses reducing their business expectations over the next six
months.

Nevertheless, Fittler said he was confident of
moderate overall growth in the German leasing market for the
year.

BDL members, whose data contributes to the
trade body’s half-year figures, represent more than 90% of the
German leasing market.

grant.collinson@vrlfinancialnews.com