U.S. business borrowing for equipment rises 8% in Nov

U.S. business borrowing for equipment rises 8% in Nov
U.S. business borrowing for equipment rises 8% in Nov - ELFA© 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…

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