ELFA’s Survey of Economic Activity: Monthly Leasing and Finance Index

WASHINGTON, D.C. — The Equipment Leasing and Finance Association's Monthly Leasing and Finance Index, which reports economic activity from 25 companies representing a cross section of the $827 billion equipment finance sector, showed their overall new business volume for May was $6.9 billion, down 8 percent from new business volume in May 2013. Month-over-month, new business volume was down 14 percent from April. Year to date, cumulative new business volume increased 3 percent compared to 2013.  

Receivables over 30 days were unchanged from the previous month at 2.0 percent, and were up from 1.6 percent from the same period in 2013. Charge-offs were unchanged from the previous two months at an all-time low of 0.2 percent.

Credit approvals totaled 76.1 percent in May, a decrease from 77.4 percent the previous month.   Total headcount for equipment finance companies was up 1.0 percent year over year.

Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index for June is 61.4, an easing from three consecutive months of two-year high levels which topped at 65.4.