Brian Cantwell

FLA statistics

New figures released today by the Finance & Leasing Association (FLA) show that
asset finance new business (primarily leasing and hire purchase) grew by 9% in May,
compared with the same month last year.

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Commercial vehicle finance increased by 21% in May compared with the same month in 2015.
Business equipment finance and IT equipment finance were up 27% and 32%
respectively over the same period.

Geraldine Kilkelly, head of research and chief economist at the FLA, said:
"Growth in asset finance new business rebounded in May,
as a wider range of asset sectors reported strong growth.
The latest official data from the Office for National Statistics confirmed our estimates that FLA
asset finance providers funded 31.8% of total UK investment in machinery,
equipment and purchased software in the twelve months to March –
the highest percentage for almost seven years."
  May
2016		 % change on prev. year 3 months to May 2016 % change on prev. year 12 months to May 2016 % change on prev. year
Total FLA asset finance (£m) 2,353 +9 8,364 +7 29,916 +8
Total excluding high value (£m) 2,315 +9 7,989 +6 28,823 +8
Data Extracts:            
By asset:            
Plant and machinery finance (£m) 451 -1 1,528 -3 5,796 +2
Commercial vehicle finance (£m) 582 +21 1,965 +9 7,143 +14
IT equipment finance (£m) 187 +32 584 +22 2,296 +22
Business equipment finance (£m) 177 +27 600 +13 2,139 -3
Car finance (£m) 733 -6 2,688 0 9,071 +5
Aircraft, ships and rolling stock finance (£m) 31 +125 112 -42 453 +1
By channel:            
Direct finance (£m) 1,195 +9 4,056 +4 14,524 +8
Broker-introduced finance (£m) 443 +17 1,418 +15 5,212 +9
Sales finance (£m) 677 +5 2,515 +4 9,087 +7
By product:            
Finance leasing (£m) 289 +31 945 +16 3,833 +8
Operating leasing (£m) 555 +11 1,959 +7 6,847 +9
Lease/Hire purchase (£m) 1,258 +9 4,255 +1 15,265 +7
Other finance (£m) 251 -9 1,205 +30 3,971 +11