US business equipment borrowings down more than 4% y/y in November, ELFA says
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U.S. companies borrowed 4.4% less for equipment investments in November compared to last year, according to the Equipment Leasing and Finance Association (ELFA). New loans, leases, and credit lines totaled $10.3 billion, slightly down from October. Despite declines across banks, captives, and independents, financial conditions remain healthy. ELFA expects the Fed's rate cut in 2025 to boost equipment demand. The ELFA CapEx Finance Index shows steady confidence at 58.3, indicating a positive business outlook.
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