View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
August 26, 2009updated 12 Apr 2017 4:33pm

US ELFA sees new business volume fall 35% in July

The USs Equipment Leasing and Finance Association (ELFA) showed that new business volume in July declined by 35 percent year-on-year. ELFAs Monthly Leasing and Finance Index, which reports economic activity for the $650 billion (455 billion) American equipment finance sector, also reported that month-to-month new business volume also decreased, by 7.7 percent from June to July, from $5.2 billion to $4.8 billion.

By Jason T

The US’s Equipment Leasing and Finance Association (ELFA) showed
that new business volume in July declined by 35 percent
year-on-year.

ELFA’s Monthly Leasing and Finance Index, which reports economic
activity for the $650 billion (€455 billion) American equipment
finance sector, also reported that month-to-month new business
volume also decreased, by 7.7 percent from June to July, from $5.2
billion to $4.8 billion.

47 percent of participating companies also reported that fewer
transactions were submitted for approval during the month, due to
tightening underwriting standards and lower demand.

“The July numbers seem to indicate that the steep decline in new
business volume and portfolio deterioration may have crested in
April,” said ELFA president Kenneth Bentsen Jr.

“While still declining on an annual basis, the trajectory of the
decline is flattening, indicating possibly a sign of recovery in
the capital equipment finance business.”

Earlier this month,
the UK’s Finance & Leasing Association (FLA) reported similar
figures, with a 39 percent fall in demand in Q2, compared to the
same period last year.

Jason T Hesse

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Thursday. The leasing industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU