UK leasing got off to a positive start in 2013 with a 5% year-on-year increase in business volume for sub-£20m deals, reaching £1.3bn for the month, according to the latest figures from the Finance & Leasing Association (FLA).
There was also a 5% year-on-year increase for the 12-month period to 31 January, although the total dropped 4% for the three-month period, compared to the previous year.
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The growth was driven by strong performances in the passenger car and business equipment sectors which grew 15% and 6% respectively compared to January 2012.
Plant and machinery, commercial vehicles and IT equipment all saw lower business levels in January compared to the previous year.
When big-ticket deals are included, the business volume for January was flat, year-on-year, at £1.5bn.
Julian Rose, head of Asset Finance at the FLA, said: "After a slow December, this is a promising start to the year.
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By GlobalData"We also hope that the Chancellor will announce, in the Budget, some new support from the Government’s Business Bank for more asset finance-based investment in the UK economy."
