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December new business volume down 1 percent year-over-year, up 59 percent month-to-month
- January 24, 2019
- News Release
- Shop Management
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 $1 trillion equipment finance sector, showed the overall new business volume for December was $12.7 billion, down 1 percent year-over-year from new business volume in December 2017. Volume was up 59 percent month-to-month from $8 billion in November in a typical end-of-year spike. Cumulative new business volume for 2018 was up 4 percent from 2017.
Receivables over 30 days were 1.70 percent, up from 1.60 the previous month and up from 1.50 percent the same period in 2017. Charge-offs were 0.55 percent, up from 0.37 percent the previous month and up from 0.48 in the year-earlier period.
Credit approvals totaled 77.9 percent in December, up from 77.2 percent in November. Total head count for equipment finance companies was up 0.1 percent year-over-year.
Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) in January is 53.4, down from the December index of 55.5.
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The Fabricator is North America's leading magazine for the metal forming and fabricating industry. The magazine delivers the news, technical articles, and case histories that enable fabricators to do their jobs more efficiently. The Fabricator has served the industry since 1970.
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