Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index
March new business volume down 7% year-over-year; Up 18% month-to-month and 0.5% year-to-date.
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 $1 trillion equipment finance sector, showed their overall new business volume for March was $9.3 billion, down 7% year-over-year from new business volume in March 2023. Volume was up 18% from $7.9 billion in February. Year-to-date, cumulative new business volume was up 0.5% compared to 2023.
Receivables over 30 days were 2.1%, down from 2.2% the previous month and up from 1.9% in the same period in 2023. Charge-offs were 0.5%, up from 0.4% the previous month and up from 0.3% in the year-earlier period.
Credit approvals totaled 77%, up from 76% in February. Total headcount for equipment finance companies was up 1.5% year-over-year.
Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) in April is 52.9, a decrease from the March index of 55.2.
For more information, please visit www.elfaonline.org.
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
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Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
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