US new business volumes were up 4% year-on-year for the month of June at $9.5bn (8.64bn), according to the US Equipment Leasing and Finance Association (ELFA).
June’s new business volumes were also 34% above the previous month, while year-to-date figures were 9% higher than over the same period in 2014.
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Late payments over 30 days were up 0.2% year-on-year to 1.1%, whereas write offs remained at an all-time low of 0.2% for the 16th consecutive month.
Credit approvals totalled 79.4% in June, up slightly from 79.2% in May.
ELFA president and chief executive officer William Sutton said: "The level of new business volume at the halfway point in the year is higher than in any similar period since at least the Great Recession. In most sectors, ELFA members report robust performance, in terms of both originations and portfolio quality.
"Tempering this ‘things can’t get much better’ mantra is a realization that various internal and external influences, including a gradually higher interest rate environment domestically and economic woes experienced by our trading partners in the Eurozone and elsewhere, could well slow the trajectory and velocity of capital spending. Time will tell."
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By GlobalData
