The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity for the $521 billion equipment finance sector, showed overall new business volume for March was $6.2 billion, up 44 percent compared to the same period in 2010. Measured against February volume, March volume increased by 51 percent.
Total headcount for equipment finance companies remained flat for the last five months, but was down two percent year-over-year. Supplemental data shows that the construction and trucking sectors continued to lead the underperforming sectors in March.
Separately, the Equipment Leasing & Finance Foundation's Monthly Confidence Index (MCI-EFI) for April is 70.3, down from 72.4 in March, and up significantly from the April 2010 index of 65.4. For more
“The dramatic increase in new business volume is, in large measure, the result of strong demand in business equipment in various industries and markets,” said ELFA President and CEO William G. Sutton, CAE. “For example, in the technology sector, a number of companies are reporting strong earnings as their business customers decide to replace aging equipment and expand capacity in response to a recovering economy. We see this trend continuing.”