X

Monthly Leasing and Finance Index up in January

Jason Cannon February 27, 2013

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 $725 billion equipment finance sector, showed their overall new business volume for January was $5.9 billion, up 16 percent from volume of $5.1 billion in the same period in 2012. ELFA says volume was down 49 percent from December, following the typical end-of-quarter, end-of-year spike in new business activity.

Receivables over 30 days increased to 1.8 percent in January after hitting their lowest level in the last two years in December at 1.6 percent. ELFA says they were down from 1.9 percent in the same period in 2012. Charge-offs were at an all-time low of 0.3 percent, down from 0.6 percent the previous month, the organization says.

Separately, ELFA says the Equipment Leasing & Finance Foundation’s Monthly Confidence Index for February is 58.7, an increase from the January index of 54.2. ELFA says this reflects industry participants’ increasing optimism despite a wary eye on economic conditions and government management of fiscal policies.

“The year begins where 2012 left off, on a positive note, as new business volume continues to trend in a positive direction.  A flurry of activity at the end of the year gave way to more moderate growth in January,” says William Sutton, ELFA president and CEO. “MLFI-25 participants also indicate strong credit quality metrics as both losses and delinquencies improved over the year-earlier period. 

“This good news belies an overhang of continued uncertainty that lingers in the marketplace, as policy makers in Washington continue to struggle with fiscal matters, which only serves as a damper to economic growth.” 

Poll

How would you categorize the state of your business 10 months into 2014?

Latest

Four Star Freightliner gets fourth Elite Support designation

McCandless Truck Center acquires Hanson International

Trailer Wizards kicks off food drive

Popular

Pete ‘show-truck-ready’ 389 now in production

A preview of Kenworth’s medium-duty cabover options

Department of Commerce releases secondary determination on ‘dumping’ of Chinese trailers

Successful Dealer Award

Click here to read about the award and see the nominees for this year's award.