Economy

Equipment Finance Industry Confidence Steady in November

According to the Equipment Leasing & Finance Foundation’s November 2023 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall confidence in the equipment finance market is 42.8, an increase from the October index of 40.1. read more

Small Business Loan Approval Rates Continue to Drop at Big Banks in October

Small business loan approval percentages at big banks (more than $10 billion in assets) decreased again from 13.1% in September to 13% in October, according to the latest Biz2Credit Small Business Lending Index. read more

Economic Activity in Services Sector Expands for 10th-Straight Month in October

Economic activity in the services sector expanded in October for the 10th consecutive month as the Services PMI registered 51.8%, according to the latest Services ISM Report on Business from the Institute for Supply Management. read more

Federal Reserve Continues Pause on Interest Rate Hikes

The Federal Reserve announced on Thursday stated that it will maintain the target range for the federal funds rate between 5.25% and 5.5%. The Fed made a similar decision in September, pausing its run of hikes aimed at curbing rising inflation that began in March 2022. read more

October Chapter 11 Bankruptcy Filings Increase 106%

There were 631 commercial Chapter 11 bankruptcy filings registered in the U.S. in October, an increase of 106% from the 306 filings registered in October 2022, according to data provided by Epiq Bankruptcy. read more

Citizens Business Conditions Index Rebounds Slightly in Q3

A strong labor market and resilient consumer trends supported a slight improvement in economic conditions in the U.S. during the third quarter as inflation showed some signs of abating, according to the Citizens Business Conditions Index. read more

ELFF Projects 2.3% Growth in US Economy for 2023 in Latest Industry Snapshot

According to the Equipment Leasing & Finance Foundation’s Q4/23 Equipment Leasing & Finance Industry Snapshot, the foundation projects that the U.S. economy will grow by 2.3% annualized in 2023. read more

ACT Research’s September For-Hire Trucking Index Suggests Gradually Improving Freight Market

The latest release of ACT Research’s For-Hire Trucking Index showed continued improvement in freight volumes, pricing and driver availability. read more

ELFA’s Monthly Leasing and Finance Index Shows 5% Y/Y Decrease in September New Business Volume

According to the Equipment Leasing and Finance Association’s Monthly Leasing and Finance Index (MLFI-25), overall new business volume for companies participating in the index in September was $9.7 billion, down 5% from new business volume in September 2022. read more

October Beige Book Shows Weaker Loan Demand, Modest Price Increases

The Federal Reserve released its October Beige Book, while little to no change in overall economic activity was reported month over month, banks reported weaker loan demand as prices continued to increase. read more

BMO Blue Book: U.S. Economy is Resilient but Predicted to Slow in Early 2024

According to a new report from BMO Blue Book, while the U.S. economy is remaining resilient, amid aggressive monetary tightening, it is predicted to slow in early 2024. read more

Golub Capital: U.S. Middle Market Shows Strongest Earnings Growth Since 2021

Middle-market private companies in the Golub Capital Altman Index grew earnings by 13% during the first two months of Q3/23, marking the highest year-over-year earnings growth since Q3/21. Revenue grew 8% during the same period. read more

Small Business Loan Approvals Slide at Big Banks, Rise at Other Lenders in September

Small business loan approval percentages at big banks ($10 billion or more in assets) fell again, dropping from 13.2% in August to 13.1% in September, according to the latest Biz2Credit Small Business Lending Index. read more

Economic Activity in Hospital Subsector Bounces Back in September

Economic activity in the hospital subsector grew in September after contracting in August, which was the second time the sector had contracted in the previous five months, with 35 consecutive months of growth prior to that, according to the Institute for Supply Management. read more

Economic Activity in Services Sector Expands Again in September

Economic activity in the services sector expanded in September for the ninth consecutive month, according to the latest Services ISM Report on Business from the Institute for Supply Management. The sector has grown in 39 of the last 40 months, with the lone contraction in December 2022. read more

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