US business equipment borrowings fall 4% in June, ELFA says

July 23 - U.S. companies borrowed 4% less to finance equipment investments in June than a year ago, industry body Equipment Leasing and Finance Association said on Tuesday.

ELFA, which reports economic activity for the more than $1-trillion equipment finance sector, said credit approvals for U.S. companies came in at 75%, unchanged from May. The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, said its confidence index for July stood at 50.7, up from 50.2 in June. A reading above 50 indicates a positive business outlook.

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