US business equipment borrowings down more than 4% y/y in November, ELFA says

Dec 22 (Reuters) – U.S. companies borrowed 4.4% less to finance equipment investments in November compared with the same period a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Monday.
New loans, leases and lines of credit signed up by companies in November were $10.3 billion on a seasonally adjusted basis, down slightly from the prior month.
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The Washington-based trade association, which tracks economic activity in the equipment sector valued at more than $1 trillion, said activity at all three institution types declined in November.
New deal growth at banks slipped 1% to $4.9 billion, while captive volumes fell 9.3% to $2.9 billion and independents dropped 12.9% to $1.9 billion.
Financial conditions remain healthy, suggesting that the sector will not be materially impacted if borrowing costs stay near current levels next year, according to the report.