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US business equipment borrowings down more than 7% y/y in February, ELFA says

The U.S. businesses experienced a significant decline in equipment borrowings in February, with a year-over-year decrease of more than 7%, according to the Equipment Leasing and Finance Association (ELFA). This drop reflects a cautious approach by businesses amidst economic uncertainties, including high interest rates and concerns over a potential recession. Despite the downturn, ELFA's confidence index showed a slight improvement, suggesting some optimism about future economic conditions. However, the overall lending environment remains challenging, with banks tightening credit standards, which could further impact business investments in equipment.

Read the Full Reuters Article at:
[ https://www.msn.com/en-ca/money/other/us-business-equipment-borrowings-down-more-than-7-y-y-in-february-elfa-says/ar-AA1BzqzD ]