The French equipment leasing industry continued to see a decline
in new business in the third quarter of the year, writing just over
€5 billion.
Thus far this year, French lessors have written new business
worth €15.7 billion, down 23.9 percent on the same period last
year. This is the fourth consecutive quarter that equipment leasing
has seen a decline.
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However, the ASF, the French leasing association, said that the
decline was not as strong in Q3, which was down by 24.3 percent,
against -28.9 percent in the second quarter and -25.6 percent in
the first quarter.
Meanwhile, French factoring companies also recorded a decline in
Q3, recording €30.6 billion of new business, against €32.6 billion
last year, a 6 percent fall.
In total this year, factoring businesses have written €90.4
billion, down by 6.2 percent on the same period in 2008. The fall,
which is expected to continue in Q4, could mean that 2009 will be
remembered as the first time in 25 years that the industry has seen
such a trend, the ASF said.
Jason T Hesse
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