Aug. 26, 2008 at 1:37pm

Equipment leasing rates jumped up

The Equipment Leasing and Finance Association's Monthly Leasing and Finance Index, which reports economic activity for the $650 billion equipment finance sector, showed overall new business volume for July increased 17.2 percent when compared to the same period 2007. Cumulative year-to date new business volumes show an increase of 4.8 percent compared to 2007.

The index is the only measure that reflects levels of equipment financed in the U.S. economy. It 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.

"Business investment in capital goods continues even in light of the credit crunch and weakness in the overall economy. It is a testament to business confidence and export demand," said Kenneth E. Bentsen, ELFA president.

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