US equipment borrowing rises in November

The Washington Equipment Leasing and Financing Association said US companies that borrow money to finance their equipment investment rose 8% in November compared to the same period last year.

Companies signed $7.9 billion in new loans, leases and lines of credit in November, up from $7.3 billion in the same period last year. However, loans are down 26% from October. ELFA added that total credit approvals stood at 77.2% in November, down from 78% in October. "Supply chain disruptions continue to plague a robust economy creating inflationary pressures that are a concern for many Americans," ELFA said.