down due to the economic turmoil, with a drop of around 10 percent
in the total value of contracts compared to one year ago – this is
the first decline in a decade.
Assilea, the Italian association for the leasing and asset
finance sectors, recently released figures showing that the
industry totalled €21.4bn in the first six months of 2008, down 10
percent from the €23.7bn figure for the same period in 2007.
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The general economic slowdown has been blamed for the drop,
particularly because of a diminished production in the
manufacturing sector, where leasing is a main form of equipment
financing. The credit crunch has swollen interest rates, making
leasing less appealing for companies.
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