U.S. business borrowing for equipment falls 24 pct in February - ELFA [Reuters]
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Source: Reuters
U.S. business borrowing for equipment falls 24 pct in February - ELFA | Reuters 2 Min Read March 22 (Reuters) - U.S. companies’ borrowing to spend on capital investments fell 24 percent in February from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Friday. Companies signed up for $5.9 billion in new loans, leases and lines of credit last month, down from $7.7 billion a year ago. The fall was 18 percent, when compared to the previous month. “Monthly new business volume declined for the first time in almost two years... Fundamentals in the U.S. economy appear to be holding up,” ELFA Chief Executive Officer Ralph Petta said in a statement. “With the Fed holding interest rates unchanged, these and other economic data bear monitoring in the coming months to better understand the dip in equipment financing volume for February.” Washington-based ELFA, a trade association that reports economic activity for the $1 trillion equipment finance sector, said credit ap
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