Borrowings for Capital Spending Rises Among US Companies in September: ELFA - Forex News by FX Leaders
US companies' borrowings for capital spending

Borrowings for Capital Spending Rises Among US Companies in September: ELFA

Posted Wednesday, October 23, 2019 by
Arslan Butt • 1 min read

According to data released by the Equipment Leasing and Finance Association (ELFA), US companies’ borrowing for spending on capital investment climbed 18% higher YoY in September to $10 billion. In a positive development reflecting an improvement in business confidence, companies signed up for more loans, leases and lines of credit during the previous month despite the trade dispute with China.

Borrowings in September came in 9% higher than in August, however total credit approvals came in at 76.3% during September, slightly lower than the 76.6% in the previous month. The key indicator of borrowings released by ELFA complements the US Commerce Department’s durable goods orders report, which is due for release in a few days.

ELFA’s non-profit affiliate Equipment Leasing & Finance Foundation has also released its business confidence readings. The business confidence index has slipped to 51.4 in October from 54.7 in September, but remains above the 50-threshold, indicating expansion and optimism among respondents.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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