View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Industry news
August 23, 2013updated 12 Apr 2017 4:01pm

US leasing business up 9% in July

New business volume in the US equipment leasing market was up 9% year-on-year to $7.2bn (€5.4bn) in July.

By Grant Collinson

New business volume in the US equipment leasing market was up 9% year-on-year to $7.2bn (€5.4bn) in July.

The figure represents a month-on-month decline of 16% although the year-to-date cumulative volume is up by 10% on the same seven months in 2012.

The data from the Equipment Leasing & Finance Association (ELFA) showed late payments up by 0.1 percentage points compared to June at 1.5% while write-offs remain unchanged at 0.3%.

Separately, ELFA’s research arm, the Equipment Leasing & Finance Foundation, reported a fourth consecutive monthly rise in its confidence index for August; up to 61.0 from 59.4 in July.

William Sutton, ELFA president, said: "The amount of new business financed during the spring and summer months continues to grow at a moderate pace.

"While cooling off somewhat from a torrid June, this month’s increase in financing activity matches a strengthening economy evidenced by a rebounding housing market, GDP growth and declining unemployment picture."

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 Friday. 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

Thank you for subscribing to Leasing Life