ELFA Monthly Leasing and Finance Index shows decreased activity

09/24/2009 | Reuters

ELFA's Monthly Leasing and Finance Index shows the number of loans, leases and lines of credit for capital-equipment investment fell in August. At the same time, delinquencies and charge-offs rose, signaling that the broader economic recovery has yet to touch the sector. "It will take some time for troubled portfolios to work their way through the system," said ELFA President Ralph Petta. The index shows capital-expenditure financing declined 35.1% year on year last month to $3.7 billion, down from $4.8 billion in July and $5.7 billion in 2008. Petta said he expects more portfolio deterioration in the short term.

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