Modest fall in asset finance new business in June

New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell in June by 3% compared with the same month in 2017, but grew by 5% in the second quarter of 2018 as a whole.

The commercial vehicle finance and IT equipment finance sectors reported new business up by 9% and 15% respectively in the second quarter of 2018 compared with the same quarter in 2017. .

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “The asset finance market reported new business up in the first half of 2018 by 1% compared with the same period a year earlier. This was in line with modest growth in UK business investment over the same period.”