July saw regional differences on the path to recovery for equipment leasing across Europe, amid jitters over a successful seasonal uplift, according to the Acquis Index.
European average lease origination volumes for July recovered to 72% of their Q1 average, following a trend that began in May and June.
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Origination volumes in the UK also reflect this positive trend recovering to 68% of Q1 volumes.
However, both the Netherlands and France experienced blips in their recovery trajectories, falling to 60% and 49% respectively. Evidence perhaps that weakened consumer confidence and speculation about a second wave continues to make business recovery uncertain.
There was positive news for the restaurant equipment sector, which demonstrated a strong improvement in volumes, with the tally rising to 64% of Q1 volumes in the UK, from lows of 17% and 23% in April and May.
Computer equipment also fared better than the average for equipment types, managing to achieve 73% of Q1’s average volumes in the UK. And office equipment also continued to pick up to 70% in the UK and a high of 78% in Europe.
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By GlobalDataThe outlook for August suggests the overall recovery may continue on this trajectory, but it will be interesting to see what impact an unusual summer holiday season may bring and whether fears of a winter resurgence will continue to hamper consumer confidence, Acquis said in a statement.
James Rudolf, chief commercial officer for Acquis, said: “There are some positive signs of a return to business as usual emerging and some sectors have fared much better than we were anticipating.
“However, the small fluctuations we are witnessing in different European countries and certain market sectors is something we continue to monitor closely and Acquis along with our stable insurance partners are ready to support our clients through periods of continued turbulence.”
Acquis Insurance Management is an independent insurance administrator working in partnership with over 90 leasing companies across 13 European countries and has been providing specialist insurance programmes for equipment leasing for over a decade.
Acquis’ volumes are predominantly made up of small-ticket equipment with an average ticket size of €12,000. 58% of the volumes are made up of IT / office equipment, 15% retail and 12% manufacturing, with the remainder consisting of construction, material handling, medical and other assets.
