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ELFA's MLFI-25 for April Shows 16% Increase in Year-Over-Year NBV The Equipment Leasing and Finance Association (ELFA) released its Monthly Leasing and Finance Index (MLFI-25) for April. The data shows overall new business volume for April increased 16% when compared to the same period 2007. Originations reached $7.2 billion in April, up from $7.0 billion in March. Respondents' portfolio performance improved: receivables in the less-than-30 days category were 96.9% in April, up slightly from the prior month. This trend held for charge-offs as well, declining to .77% in April from .83% in March. However, when comparing April 2008 data to the same period one year earlier, overall portfolio quality shows some deterioration. Credit approval ratios (73.9%) increased when compared to the prior month (73.6%). Total headcount remains virtually flat for the last three months. The MLFI-25 reflects levels of equipment financed and complements other relevant economic indices, including the monthly durable goods report produced by the U.S. Department of Commerce, which reflects new orders for manufactured durable goods and the Institute for Supply Management Index, which reports economic activity in the manufacturing sector. Along with the MLFI-25 these reports provide a complete picture that describes the use of productive assets in the U.S. economy: equipment produced, acquired and financed. "The April data shows that businesses invested in capital goods at a faster pace," said ELFA President Kenneth E. Bentsen, Jr. "This is an improvement in financing activity for capital goods as compared to the first quarter and may indicate that businesses are predicting positive growth in economic demand," Bentsen said. Tuesday, May 27, 2008  SOUND OFF! Send a letter to the Editor, Stuart Papavassiliou at sppapa@monitordaily.com. To get your company’s news included on the monitordaily.com site and published in the Monitor, contact Chris Moraff, Associate Editor, at 610.293.1300 x112 or email news to cmoraff@monitordaily.com. If you would like to search our News Archives, please click here. |
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