Equipment Leasing and Finance Association’s Monthly Leasing and Finance Index NBV Down 4% Y/Y, Up 4.1% YTD
2024年7月24日 - 9:00PM
The
Equipment Leasing and Finance
Association’s (ELFA)
Monthly
Leasing and Finance Index (MLFI-25), a survey of economic
activity from 25 companies representing a cross section of the $1
trillion equipment finance sector, reports that in June:
- New business volume (NBV) was $10 billion, down 4% from June
2023.
- Month over month, NBV was down 2% from $10.2 billion in May
2024.
- Year to date, cumulative NBV was up 4.1% compared to 2023.
Additional findings include:
- Receivables over 30 days were 2.0%, down from
2.3% the previous month and up from 1.8% in the same period in
2023.
- Charge-offs were 0.5%, up from 0.4% the
previous month and up from 0.4% in the year-earlier period.
- Credit approvals totaled 75%, unchanged for
the second consecutive month.
- Total headcount for equipment finance
companies was down 0.9% year-over-year.
Separately, the Equipment Leasing & Finance Foundation’s
Monthly Confidence Index in July is 50.7, steady with the June
index of 50.2.
ELFA President and CEO Leigh Lytle said, “Our
latest MFLI report shows modest cooling in the equipment leasing
and finance industry. A pullback in origination activity at banks
caused overall new business volume to dip in June after
double-digit growth in the previous two months. That said,
portfolio quality remained consistent, fluctuating within a narrow
range as receivables improved and losses dipped. We expect
financial conditions to remain solid in 2024 as recent inflation
data leads the Fed to begin easing borrowing costs in September.
That would boost equipment demand, which in turn should bolster
economy-wide investment through the end of the year.”
Todd Wainwright, SVP, Head of Commerce & Strategic
Partnerships, Amur, said, “The current
moment, while not simple, is a very interesting one for Amur and
other well-capitalized independents. Banks have been so dominant in
our industry for so long, but with banks looking to lend less, we
expect to see continued opportunities to be the go-to source of
financing in the marketplace. Given our 28-year track record and
time-tested platform, we are proud that we have been able to stay
consistent and reliable with our partners regardless of market
fluctuations.”
About ELFA’s MLFI-25The MLFI-25 is the only
near-real-time index that reflects capex, or the volume of
commercial equipment financed in the U.S. It is released monthly
from Washington, D.C., one day before the U.S. Department of
Commerce's durable goods report. This financial
indicator complements reports like the Institute for Supply
Management Index, providing a comprehensive view of
productive assets in the U.S. economy—equipment produced, acquired
and financed. The MLFI-25 consists of two years of business
activity data from 25 participating companies. For more details,
including methodology and participants, visit
www.elfaonline.org/knowledge-hub/mlfi.
About ELFAThe Equipment Leasing and Finance
Association (ELFA) represents financial services companies and
manufacturers in the $1 trillion U.S. equipment finance sector.
ELFA’s 575 member companies provide essential financing that helps
businesses acquire the equipment they need to operate and grow.
Learn how equipment finance contributes to businesses’ success,
U.S. economic growth, manufacturing and jobs at
www.elfaonline.org.
Follow ELFA:X: @ELFAonlineLinkedIn:
https://www.linkedin.com/groups/89692/
Media/Press Contact: Amy Vogt, Vice President,
Communications and Marketing, ELFA, avogt@elfaonline.org