9 August 2013
New figures released today by the Finance & Leasing Association (FLA) show a 15%2 surge in asset finance growth across key business investment categories of plant and machinery, commercial vehicles, IT and other business equipment during the second quarter of 2013, shrugging off the 10% contraction in the first quarter. IT and business equipment reported notable growth rates, with new business up by 32% and 26% respectively during the second quarter.June was a good month for the commercial vehicle and plant and machinery finance sectors, which reported growth of 13% and 21%.
Commenting, Julian Rose, Head of Asset Finance at the FLA said: “New investment in business equipment is a good indicator of future business growth, so these figures augur well for SME sales growth and employment trends over the rest of 2013.”
|June 2013||% change on June 2012||3 months to June 2013||% change on prev. year||12 months to June 2013||% change on prev. year|
|Total FLA asset finance (£m)||2,027||+3||5,752||+6||21,428||-1|
|Total leasing and hire purchase excluding high value (£m)||1,874||+2||5,567||+6||20,771||+1|
|Plant and machinery finance (£m)||428||+21||1,164||+9||4,292||+3|
|Commercial vehicle finance (£m)||463||+13||1,231||+10||4,627||-1|
|IT equipment finance (£m)||193||+8||481||+32||1,469||+12|
|Business equipment finance (£m)||222||+20||566||+26||1,864||-5|
|Car finance (£m)||571||0||1,832||-2||6,687||+3|
|Aircraft, ships and rolling stock finance (£m)||22||-23||67||+1||471||+40|
Note to editors:
- In 2012 FLA members provided £76.6 billion of new finance to UK businesses and households. £21.5 billion of finance was provided to businesses and the public sector, representing around 28% of all fixed capital investment (excluding real property and own-account software) in the UK last year.
- Aggregate figure for plant and machinery, commercial vehicles, IT and other business equipment, £3,442m, is 15% up on the comparable figure for Q2 2012