After about a year of month-over-month grow, I feel pretty confident in saying the equipment industry is making Godzilla look like an action figure in a Lego city.
For April, the Wall Street Journal reports that the industry has seen an 11 percent growth over the year before, the twelfth straight month in which that has happened. For a long time, I’ve resisted giving myself over to optimism, given that she tends to be a fickle mistress indeed.
According to the Equipment Leasing and Finance Association, the total volume in equipment finance and sales was $5.1 billion in April, up from $4.6 billion in 2010. I should note that it’s less than in March, a month that saw over $6 billion, but given the vagaries of the monthly market I think the year-over-year comparison is more valuable.
The delinquency rates on loans are also down, strongly indicating that the industry’s growth is sustainable, at least over the short term. That also speaks well to the overall economic recovery, which at times has been so tiny that I’ve had to strain my eyes to see signs of it.
Because so much flows out of the industry—equipment’s a broad category that encompasses everything from computers to farm tractors—its continued success is vital to America’s fortunes in the coming months. Let’s hope they continue to blossom, if you can in any way associate an industry that deals in generators with flowers.
React to this news, if you would.
Photo credit to SailorJohn at http://www.sxc.hu/photo/1114051