New business volume in US equipment leasing
during May was $6.2bn (€5bn), representing 11% year-on-year growth
and a 1.6% increase from the previous month.
The latest figures from the Equipment Leasing
and Finance Association (ELFA) also show the economic activity for
the $628bn equipment finance sector is up 16% year-to-date.
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Credit approvals increased to 78% in May from
76% in April and 75% of participating organisations reported
submitting more transactions for approval during May, down slightly
from 76% in April.
William Sutton, ELFA president and chief
executive, said: “Overall new business activity in the equipment
finance sector continues to trend positively, despite developing
headwinds resulting from the euro-crisis and its potentially
negative implications for the U.S. economy.
“Credit quality continues to show steady
improvement in relation to both delinquencies and write-downs.”
However, ELFA’s research arm, the Equipment
Leasing & Finance Foundation (ELFF), reported a decline in its
Monthly Confidence Index for June, down to 48.5 from 59.2 in
May.
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By GlobalDataThis is the second lowest level for the index
since September 2011 and reflects growing concern over the European
debt crisis, US unemployment and regulatory and political
uncertainty, according to ELFF.
