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 April was $5.1 billion, up 11 percent compared to the same period in 2010. Compared against March volume, April volume decreased by 18 percent.
Credit quality is improved. Receivables over 30 days decreased to 3.3 percent in April from 3.5 percent in March, and declined by nine percent compared to the same period in 2010. Credit standards remained steady as new application approvals increased slightly to 76 percent in April from a revised 75 percent approval rate in March.
“All of April’s business performance indicators appear to provide evidence that the equipment finance sector continues to gain momentum,” said ELFA President and CEO William G. Sutton, CAE. “Recent anecdotal information
|Monthly Confidence Index down|
The Equipment Leasing & Finance Foundation's Monthly Confidence Index (MCI-EFI) for May is 63.2, down from the April index of 70.3, indicating a more measured outlook due to the uneven performance in certain sectors. For more detailed information on the MCI-EFI visit www.LeaseFoundation.org