ELFA's Monthly Leasing and Finance Index, which reports economic activity for the $650 billion equipment-finance sector, shows that overall new business volume for May declined by 41% compared with the same period last year. Month-to-month volume increased 2.4% from April to May, from $4.1 billion to $4.2 billion. "New investment in capital goods by businesses continues at a tepid pace as 91% of MLFI participants report a decline in new business volume. ... Further, the vast majority report continued decline in customer demand along with continued tightening of underwriting standards and credit availability," said Ken Bentsen, ELFA's president and chief operating officer.

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