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Asset finance up by 6% in May PDF Print E-mail
Thursday, 09 July 2015

New figures released today by the Finance & Leasing Association (FLA) show 6% growth in asset finance new business (primarily leasing and hire purchase) in May, compared with the same month last year. 

IT equipment finance saw growth of 39% in May, while in the same period, plant and machinery finance and car finance grew by 6% and 21% respectively.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“The asset finance market has recorded its strongest start to a year since the financial crisis, with new business up by 16% in the first five months of 2015.

“Recent research by Oxford Economics showed just how important the asset finance industry is to the UK economy.  In 2014, it funded almost 28% of all UK investment in ICT equipment, software, transport equipment and other machinery and supported 84,000 UK jobs.”  

(Source - FLA News Release)  

 
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