US business borrowing for equipment falls 2% in July

Aug 28 - U.S. companies borrowed nearly 2% less in July than last year to finance equipment investments, an Equipment Leasing and Finance Association survey showed on Monday.

"In the current relatively high-interest rate environment in which the industry finds itself this summer, survey respondents are reporting some softness, coinciding with expectations by economists that overall investment in equipment and software will slow down in the second half of 2023," ELFA Chief Executive Ralph Petta said.

Washington-based ELFA's leasing and finance index measures the volume of commercial equipment financed in the United States.

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