Data

October U.S. Trailer Orders Up 83% M/M, 171% Y/Y

According to ACT Research, October net U.S. trailer orders of 47,860 units were 83% higher compared to September, up 57% on a seasonally-adjusted basis and 171% above last year's October level. read more

Equipment Finance New Business Volume Rises 6% Y/Y in October

According to Equipment Leasing and Finance Association’s Monthly Leasing and Finance Index (MLFI-25), new business volume in the equipment finance industry for October was $11.3 billion, up 6% year-over-year from new business volume in October 2021. read more

Mini Excavator Sales on the Rise, Excavator Large Unit Volumes Down

According to Ritchie Bros.’ recent November Market Trends Report, there has been a continued rise in popularity of compact earthmoving equipment, as U.S. excavator large unit volumes are down significantly in 2022, while mini excavator sales have been increasing. read more

WSFS Study Finds 45% of Small Businesses Considering Equipment Purchases

According to a study from WSFS Bank examining Mid-Atlantic small business trends, nearly half of respondents (45%) are considering new loans to reinvest in their businesses by purchasing equipment. read more

Spot Rates Decline, Concerns About Diesel Shortage Rise

Recently, ACT Research released the latest installment of the ACT Freight Forecast, U.S. Rate and Volume OUTLOOK report. According to the report, lower freight costs are set to grow in 2023. read more

Equipment Finance Industry Confidence Eases Further in November

According to the Equipment Leasing & Finance Foundation, overall confidence in the equipment finance market is 43.7, a decrease from the October index of 45. The ELFF has reported a decrease in its confidence index in each of the last three months.  read more

Biz2Credit Small Business Study Finds IT Companies Ahead in Most Measures

A new study published by Biz2Credit found that information technology (IT) firms had the highest average revenue ($955,793) and the best average credit score (658) and received the highest average amount of financing ($131,743) when they sought credit in 2021. read more

October’s Used Truck Average Retail Volumes Decrease 30% Compared to 2021

According ACT Research, preliminary used Class 8 retail volumes (same dealer sales) in October decreased 10% month over month and were 30% lower compared to October 2021. read more

Ritchie Bros. Sells More Than $64MM of Equipment and Trucks in Houston

Ritchie Bros. attracted more than 11,200 online bidders to compete for more than 6,000 items, generating more than $64 million in gross transaction value at its final auction of the year in Houston. read more

November Commercial Vehicle Forecasts Slightly Higher Than October, Class 8 Forecasts Stable

According to ACT Research’s latest release of the North American Commercial Vehicle Outlook, 2022 forecasts this month are slightly raised from October caused by easing supply-chain constraints. read more

CFLA Outlook Projects 28% Decrease in New Business Volume in Next 6 Months

The Canadian Finance and Leasing Association released its Q3/22 and Q4/22 Industry Business Confidence survey results, reporting that 28% of respondents expect new business volumes to decrease and 60% expect overall margins to fall over the next six months. read more

Small Business Loan Approval Rates Drop in October

According to the latest Biz2Credit Small Business Lending Index, small business loan approval percentages at big banks dropped from 14.9% in September to 14.7% in October, marking the lowest total since February. read more

Global Interest Rates Rising Faster, Pivot Unlikely in 2023

According to Fitch Ratings’ September 2022 Global Economic Outlook, global interest rates have risen more rapidly than expected in the past two months and a pivot back towards rate cuts in 2023 is unlikely. read more

Report Shows Only 11% of Banks Are Positioned to Adopt Growth Activities

According to a comprehensive business designation study from The ROIG Group, 11% of U.S. banks are currently well-positioned to adopt growth activities. Inversely, the research found that 89% of banks should be focused on other challenges to drive value. read more

Seasonal Hiring Decline Highlights a Weakness in Labor Market

The CBIZ Small Business Employment Index reported a seasonally adjusted decrease of 1.94% in October. The reading highlighted the emerging weakness in the labor market and showed a decline in hiring for the third-straight month. read more

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