Equipment leasing index: April new business volume up 7% year-over-year,
On month-to-month basis, Equipment Leasing and Finance Association’s index shows new business volume relatively unchanged from March
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 $900 billion equipment finance sector, showed their overall new business volume for April was $10.5 billion, up 7 percent year-over-year from new business volume in April 2021. Volume was relatively unchanged from $10.6 billion in March.
Year-to-date, cumulative new business volume was up nearly 6 percent compared to 2021. Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) in May is 49.6, a decrease from 56.1 in April.
ELFA President and CEO Ralph Petta said, “New business volume for a subset of the ELFA membership shows stable growth in April amidst a somewhat slowing economy and rising interest rate environment. Anecdotal information from a number of ELFA member organizations indicates that equipment deliveries continue to be a problem as supply chain disruptions continue. Soaring energy prices and inflation are headwinds confronting the industry as we move into the summer months.”
Eric Bunnell, CLFP, President, Arvest Equipment Finance, added, “The recent results from the MLFI-25 mirror what we are seeing every day. Volume continues to be steady even with rising interest rates. The portfolio is performing well, with below average delinquency rates, but we continue to monitor this closely. We continue to be optimistic for the rest of 2022, especially if the supply chain continues to improve.”
The MLFI-25 is the only near-real-time index that reflects capex, or the volume of commercial equipment financed in the U.S. The MLFI-25 is released globally at 8 a.m. Eastern time from Washington, D.C., each month on the day before the U.S. Department of Commerce releases the durable goods report.
Article Topics
Equipment Leasing and Financing Association News & Resources
Equipment leasing survey: April new business volume down 8% year-over-year Equipment leasing activity index for March down slightly, year over year ELFA’s equipment leasing index volume for January up 6% year over year ELFA’s equipment leasing index shows gains in December ELFA’s equipment leasing index for October up 6% on year-over-year basis Equipment leasing index: volume for September up from August ELFA’s leasing activity index for August sees decline from July More Equipment Leasing and Financing AssociationLatest in Supply Chain
C-Suite Executives Investing Heavily in Generative AI Trucking Industry Pushes Back on Government’s Electric Mandates Senators Take Aim at Amazon with Warehouse Worker Protection Act Maersk Sees Silver Lining in Red Sea Shipping Challenges Happy Returns Partners With Shein and Forever 21 to Simplify Returns S&P Global Market Intelligence’s Rogers assesses 2024 import landscape Frictionless Videocast: AI and Digital Supply Chains with SAP’s Darcy MacClaren More Supply Chain
