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SHARE December 21, 2020
Overall new leasing business was down 21 percent in November to $7.3 billion, after posting $9.3 billion in October. Business was down 7 percent compared to November 2019, and cumulative volume is off 6 percent to 2109.
The numbers are part of the Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25). The index reports economic activity from 25 companies representing a cross section of the $900 billion equipment finance sector.
“With a tumultuous election season behind us, the equipment finance industry reports slightly lower volume totals for the month,” said Ralph Petta, president/CEO, in a prepared statement. “The effect of the Covid-19 pandemic on the U.S. economy surely has taken, and will continue to take, a toll on some members’ business operations.