Sept 23 (Reuters) – U.S. companies borrowed 2% less to finance equipment in August than a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Tuesday.
However, equipment borrowings rose by 2.8% from July.
Sign up here.
The Washington-based trade association, which monitors economic activity in the equipment sector valued at more than $1 trillion, also reported that the average credit approval rate rose to 78.7% in August, the highest rate since December 2021.
US business equipment borrowings fall in August, ELFA says
RELATED ARTICLES
