US borrowing for equipment rises

WASHINGTON: U.S. companies´ borrowing to spend on capital investment rose 2 percent in October from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Monday, citing increased confidence in the economy.
Companies signed up for $8.4 billion in new loans, leases and lines of credit last month, up from $8.2 billion a year earlier. However, borrowing fell 3 percent from September. "Equipment finance originations continue to grow, albeit slowly, as some sluggish market verticals show signs of rebounding. This trend, coupled with buoyed confidence in overall economic conditions, pave the way for a very healthy end-of-year bump,” ELFA Chief Executive Ralph Petta said.