Equipment Financing Hits a Skid

Companies are cutting back on new equipment orders as the effects of tight
credit spread.

The August survey by the Equipment Leasing and Finance Association shows that
new business volume dropped by 14.5 percent, falling from $6.2 to $5.3 billion
compared to the same month the year before. The August drop was even bigger
compared to July — down by 22 percent, from $6.8 billion.

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