Figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in November was £2.5bn, a similar level to the same month in 2016.

The commercial vehicle finance and IT equipment finance sectors reported new business up in November by 5% and 1% respectively, compared with the same month in 2016, while new finance for plant and machinery fell by 3% over the same period.

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Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The asset finance market reported a broadly stable picture across the main asset sectors in November, and remains on course to report a record level of annual new business in 2017 of around £32 billion. This would represent new business growth of 6% compared with 2016, in line with expectations.”

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