New business volume up 3 percent in equipment finance sector
Tina Grady Barbaccia | December 21, 2012
In a slight increase, new business volume for November was up 3 percent – $6.4 billion, up from $6.2 billion – 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.
According to ELFA, volume was down 16 percent from the previous month, and their year-to-date cumulative new business volume increased 15 percent.
Receivables greater than 30 days increased for the first time in six months to 2.0 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.
MORE FROM Economics
- Secret Cold War bunker found inside Brooklyn Bridge (PHOTOS)2230 Views
- Most common work-related deaths for highway and bridge construction workers1257 Views
- DOT loans $950 million to Florida highway project540 Views
- Tolling becoming the solution of choice for most Americans491 Views
- How to protect roadworkers from hearing loss312 Views