In a release from White Clarke Group, CEO – Americas Jonathan Dodds said over much of last year, the U.S. showed the rest of the world the way in terms of economic growth, and the momentum in the economy is being reflected in the performance of the equipment finance and leasing industry.

The equipment finance market in the U.S. is forecasted to grow from $903 billion in 2014 to $922 billion in 2015. Of the estimated all-time high of $1.484 trillion that is projected to be invested in plant, equipment and software, 62% is expected to be financed through loans, leases and lines of credit.

The U.S. Equipment Leasing and Finance Association (ELFA) Monthly Leasing and Finance Index (MLFI-25), a summary of economic activity from 25 equipment finance companies representing a cross-section of the sector, showed in December 2014 that overall new business volume (NBV) increased by 20% compared to December 2013, and also rose 90% compared to November 2014.

Year-on-year changes for monthly new business have however varied considerably where, for example, the +20% difference in December 2014 over December 2013 was preceded by a decline of -8% for the November totals.

Nonetheless, the overall situation is positive, with cumulative new business for the 25 MLFI companies growing 8% over the year, from $88.5 billion in 2013 to $95.2 billion in 2014.

White Clarke Group has a comprehensive summary of trends in the US market – which is available free of charge on the White Clarke Group Blog on Asset Finance International.