Feb 23 (Reuters) – U.S. companies borrowed 30.1% more to finance equipment purchases in January than a year earlier, reaching the highest dollar amount in the last two decades, the Equipment Leasing and Finance Association said on Monday.
New loans, leases and lines of credit signed up by companies in January were $11.6 billion on a seasonally adjusted basis, an increase of 7.8% 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 banks was down 11.7% from December.
US business equipment borrowings rise more than 30% in January, ELFA says
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