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.
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