© Reuters. FILE PHOTO: Construction workers assemble a scaffold at a job site, as phase one of reopening after lockdown begins, during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., June 8, 2020. REUTERS/Brendan McDermid
(Reuters) – U.S. companies borrowing funds to finance their investments in equipment rose 8% in November, compared with a year earlier, Washington-based Equipment Leasing and Finance Association (ELFA) said on Tuesday.
Firms signed up for $7.9 billion in new loans, leases and lines of credit last month, up from $7.3 billion a year earlier. Borrowings, however, are down 26% from October.
“Supply chain disruptions continue to plague an otherwise strong economy, creating inflationary pressures that are a concern for many Americans.” ELFA’s Chief Executive Officer Ralph Petta said in a statement.
“The hope is that…