U.S. business equipment borrowings up 4% in August – ELFA

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(Reuters) – U.S. companies borrowed 4 percent more in August from a year earlier compared with a year earlier, industry body ELFA said on Friday. , while questioning the sustainability of this growth amid fears of a slowdown.

The two companies signed $8.8 billion in new loans, leases and, last year, according to the Equipment Leasing and Finance Association (ELFA). Monthly credit facilities were $8.5 billion, compared to $8.5 billion a year earlier. Borrowings were up 5% from January. ” and the Fed’s closest 25 – short-term rate basis point jumps, and hard landings Outlook, time will tell if — and to what extent — these business owners continue to grow and invest in equipment,” ELFA CEO Ralph Petta said in a statement. ELFA, which reports economic activity in the nearly $1 trillion equipment financial sector, said the total number of credit approvals .2%, down from

% in July. The Washington-based agency’s Leasing and Finance Index measures the amount of commercial equipment financed in the United States. The index is based on pairs

members, including Bank of America Corporation (NYSE:

BAC

), and Affiliates or units of financing 78 Caterpillar

Company (NYSE: 500 Cat ), Dell Technologies (NYSE:

Dell ) Inc, Siemens AG (OTC: 247SIEGY), Canon Company and Volvo AB (OTC: 247VLVLY

). ELFA The Equipment Leasing and Finance Foundation, a non-profit affiliate, released its confidence index in September standing .7%, compared with % in August. The above reading indicates a positive business outlook. 52