Asset finance sector growth supports economic recovery
Figures released today by the Finance & Leasing Association (FLA) show that asset finance new business was up by 12% in February 2014, compared with the same month last year.
Growth was broad-based and evident across a number of key asset sectors, with plant and machinery finance up 36%, business equipment finance up 14% and commercial vehicle finance seeing a rise of 22%.
Commenting, Geraldine Kilkelly, head of research and chief economist at the FLA, said: “These figures are a very encouraging indicator of a more balanced economic recovery and illustrate the important role that the asset finance industry is playing in ensuring the recovery is sustainable.”
