Equipment finance sector sees 3-percent increase in new business volume
New business volume for November was up 3 percent — $6.4 billion, up from $6.2 billion — a slight increase from the same time in 2011, according to the latest report from the Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $725 billion equipment finance sector.
Volume was down 16 percent from the previous month, according to ELFA, and year-to-date cumulative new business volume increased 15 percent.
Receivables greater than 30 days increased for the first time in six months to 2 percent, up from 1.7 percent in October, and they were unchanged when compared to the same period in 2011, according to ELFA. Charge-offs were up from the previous month at 0.5 percent, and down by 28.6 percent compared to the same period last year, ELFA says.
From our partners
MORE FROM Articles
SUBSCRIBE & FOLLOW
- VIDEO: Caterpillar builds world’s tallest sand castle, then destroys it 850 Views
- Sand saves a construction worker's life409 Views
- Martin Marietta gives thousands to charity during the holidays188 Views
- Congress passes $1.1 trillion spending bill; cuts billions from federal construction accounts164 Views
- Get operations off to a good start with sound mine planning150 Views