Equipment Leasing and Finance Association'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 (MLFI-25), 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 July was $8.2 billion, up 4 percent from new business volume in July 2014. Volume was down 14 percent from $9.5 billion in June. Year to date, cumulative new business volume increased 8 percent compared to 2014.

Receivables over 30 days were 1.0 percent, down slightly from 1.1 percent the previous month and unchanged from the same period in 2014. Charge-offs remained at an all-time low of 0.2 percent for the 17th consecutive month.

Credit approvals totaled 79.0 percent in July, down slightly from 79.4 percent in June. Total headcount for equipment finance companies was up 5.4 percent year over year.

Separately, the Equipment Leasing & Finance Foundation's Monthly Confidence Index (MCI-EFI) for August is 67.4, an increase from the July index of 62.6.