Economy

January New Business Volume in Equipment Finance Industry Falls 12% Y/Y, 33% M/M

According to the ELFA’s Monthly Leasing and Finance Index, overall new business volume for January 2021 was $8.1 billion, down 12% year over year from new business volume in January 2020. In addition, volume was down 33% month to month from $12.1 billion in December. read more

Small Business Loan Approval Rates at Big Banks Plummet More Than 50% Y/Y in January

Small business loan approval percentages at big banks ($10 billion or more in assets) increased slightly to 13.2% in January 2021 from December 2020’s figure of 13.1%, according to Biz2Credit. In comparison, in January 2020, big banks approved a record high of 28.3% of the funding requests they received. read more

Vaccine Optimism Boosts Q4/20 Citizens Business Conditions Index

The national Citizens Business Conditions Index posted a second consecutive quarter of gains as optimism fueled by COVID-19 vaccine announcements and increased election certainty began to outweigh concerns about spiking pandemic cases. read more

Services Sector Reports Growth in January as PMI Reaches Highest Level since Feb. 2019

Economic activity in the services sector grew in January for the eighth month in a row, according to the latest Services ISM Report on Business from the Institute for Supply Management. read more

ISM: Manufacturing Sector Grows in January as New Orders and Production Increase

Economic activity in the manufacturing sector grew in January, with the overall economy notching an eighth consecutive month of growth, according to the latest Manufacturing ISM Report on Business from the Institute for Supply Management. read more

ISM Predicts Continued Economic Improvement in 2021

According to its most recent economic forecast, the Institute for Supply Management expects that economic improvement will continue in the United States in 2021. Capital expenditures are expected to increase by 2.4% in the manufacturing sector and increase by 12.7% in the services sector. read more

ISM: Services Sector Activity Expands in December as Prices Increase at a Slower Rate

Economic activity in the services sector grew in December for the seventh month in a row, according to the latest Services ISM Report on Business from the Institute for Supply Management. read more

ISM: Manufacturing Sector Continues Rebound as COVID-19 Pandemic Slows Full Recovery

Economic activity in the manufacturing sector grew in December, with the overall economy notching an eighth consecutive month of growth, according to the Institute for Supply Management. read more

NACM’s December Credit Managers’ Index Remains Strong

The National Association of Credit Management’s Credit Manager’s Index held strong in December, with a combined score of 57.8, which was down a tenth of a point from November and 0.6 points from October. December’s score is more than three points higher than December 2019. read more

ELFF Projects 3.5% Decline in U.S. Economy for 2020, 4.7% Increase in 2021

According to the Equipment Leasing & Finance Foundation, despite a surge in Q3/20, due to the historic deep decline in Q2/20, the U.S. economy is expected to end the year down 3.5% from 2019. However, the economy is expected to grow 4.7% in 2021. read more

ELFF: Equipment Finance Industry Confidence Reaches Pre-Pandemic Levels

According to the Equipment Leasing & Finance Foundation’s December 2020 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall confidence in the equipment finance market is 59.7, an increase from the November index of 56.1. read more

ELFF: Equipment Investment Growth to Outpace U.S. GDP Growth in 2021

Annual equipment and software investment will grow 7.8% in 2021, while annual U.S. GDP will grow 4.7%, according to a report from the Equipment Leasing & Finance Foundation. read more

Biz2Credit: PPP Had Large But Short-Lived Effect for Small Businesses

U.S. government lending programs restored sufficient capital for businesses to weather the effects of the COVID-19 pandemic for a short period, but many firms are currently operating at a monthly loss, according to Biz2Credit’s new six-month analysis of COVID-19’s impact on small businesses. read more

AICPA Survey Finds 54% of Businesses Need Economic Stimulus by Early 2021

More than half of business executives (54%) expect some negative impact to their organizations if a renewed round of economic stimulus does not materialize by early 2021, according to the Q4/20 AICPA Economic Outlook Survey. read more

Phoenix Lending Survey Reveals Slow Growth and Choppy Recovery Post COVID-19

Phoenix Management Services’ Q4/20 “Lending Climate in America” survey projected a slow and choppy recovery from COVID-19. Lenders expect reduced business opportunities and deterioration of their portfolios to be the greatest risks to their institutions. read more

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