Asset finance sector growth supports economic recovery

Released on 4 April 2014

Figures released today by the Finance & Leasing Association (FLA) show that asset finance new business was up by 12% in February 2014, compared with the same month last year.

Growth was broad-based and evident across a number of key asset sectors, with plant and machinery finance up 36%, business equipment finance up 14% and commercial vehicle finance seeing a rise of 22%.

Commenting, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“These figures are a very encouraging indicator of a more balanced economic recovery and illustrate the important role that the asset finance industry is playing in ensuring the recovery is sustainable.”

 

 

 

Feb 2014

% change on Feb 2013

3 months to Feb 2014

% change on prev. year

12 months to Feb 2014

% change on prev. year

Total FLA asset finance (£m)

1,636

+12

5,551

+19

22,715

+5

Total leasing and hire purchase excluding high value (£m)

1,591

+9

5,467

+17

21,978

+5

Data Extracts:
Plant and machinery finance (£m)

417

+36

1,145

+25

4,624

+9

Commercial vehicle finance (£m)

395

+22

1,437

+41

5,355

+15

IT equipment finance (£m)

94

-4

419

+15

1,540

+12

Business equipment finance (£m)

147

+14

487

+15

1,979

+8

Car finance (£m)

411

-4

1,484

+3

6,690

-2

Aircraft, ships and rolling stock finance (£m)

26

-34

65

-1

284

-39

 

Note to editors:

 

  1. In 2013 FLA members provided £88.3 billion of new finance to UK businesses and households.  £22.4 billion of finance was provided to businesses and the public sector, representing around 30% of all fixed capital investment (excluding real property and own-account software) in the UK last year.
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