ELFA Releases Survey of Economic Activity

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 $903-billion equipment finance sector, showed their overall new business volume for December was $12.9 billion, up 20 percent from new business volume in December 2013. In a typical end-of-year spike, their new business volume was up 90 percent from November volume of $6.8 billion. Cumulative new business volume for 2014 rose 8 percent over 2013.  

Receivables over 30 days were unchanged from the previous month and from the same period in 2013 at 1 percent. Charge-offs were unchanged for the ninth consecutive month at an all-time low of 0.2 percent.
Credit approvals totaled 78.6 percent in December, a slight decrease from 79.1 percent the previous month. Total headcount for equipment finance companies was up 0.5 percent year over year.

Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index for January is 66.1, an increase from the December index of 63.4 and the highest level in the last three years.