Home ›› 25 Sep 2021 ›› World Biz
Borrowings by US companies for capital investments rose 21 per cent in August from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Thursday.
The companies signed up for $8.5 billion in new loans, leases and lines of credit last month, up from $7 billion a year earlier. However, borrowings fell 14% from the previous month.
“August data show some softness in equipment demand resulting from a mix of summer doldrums, continued supply chain disruptions and lingering pandemic-related woes,” ELFA Chief Executive Officer Ralph Petta said in a statement. Business optimism, which peaked earlier in the summer, also has waned somewhat.”
ELFA’s leasing and finance index measures the volume of commercial equipment financed in the United States.