U.S. business borrowing for equipment falls about 7% in April: ELFA

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Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid

(Reuters) – U.S. companies’ borrowings for capital investments fell about 7% in April from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Tuesday.

The companies signed up for $8.2 billion in new loans, leases and lines of credit last month, down from $8.8 billion a year earlier. Borrowings fell 8% from the previous month.

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