US business equipment borrowings rise 13% in July, ELFA says

- U.S. companies increased borrowing to finance equipment investments by 13% in July compared with the previous year, the Equipment Leasing and Finance Association said on Thursday.

"Our latest report reflects optimism from industry leaders that equipment demand should remain healthy over the second half of the year as the Fed begins to ease monetary policy," ELFA President and CEO Leigh Lytle said. ELFA's non-profit affiliate, the Equipment Leasing & Finance Foundation, said its confidence index for August stood at 58.4, up from 50.7 for July, its highest level in more than two years. A reading above 50 indicates a positive business outlook.

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