The Finance & Leasing Association ("FLA") reports that the value of asset finance new business (principally comprising hire purchase and leasing) written in November 2017 was £2.5 billion, about the same as November 2016.
The FLA's head of research and chief economist, Geraldine Kilkelly, told us, “The asset finance market reported a broadly stable picture across the main asset sectors in November, and remains on course to report a record level of annual new business in 2017 of around £32 billion."
The IT equipment finance and commercial vehicle finance sectors grew modestly in the same period, by 1pct and 5pct respectively. New finance for plant and machinery declined 3pct compared to November 2016.
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