US business equipment borrowings fell 7% in March, ELFA says

- U.S. companies borrowed 7% less to finance equipment investments in March compared to a year ago, industry body Equipment Leasing and Finance Association said on Monday.

"Equipment and software investment should pick up in the latter part of the year when the Fed is expected to begin its rate cuts," ELFA President and CEO Leigh Lytle said. ELFA's leasing and finance index is based on a 25-member survey, including Bank of America and financing units of

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