U. S. Companies Take Big Loans for New Equipment

U. S. firms borrowed over 14% more money in February than they did a year ago to buy new equipment. The jump comes from a sharp rise in borrowing through independent lenders and financiers. A trade group that watches the $1 trillion equipment‑finance market released the data after surveying 25 major banks and leasing firms. The members of the survey include big names such as Bank of America, Caterpillar, Dell Technologies, Siemens, Canon and Volvo.These lenders said that businesses are more eager to invest in machinery, tools and technology this month than they were last year. The increased borrowing suggests that companies feel confident about future demand and want to upgrade or expand their operations. It also shows that the equipment‑finance sector is still healthy, with lenders willing to provide loans and leases. The rise in February may help keep economic growth steady as firms bring new equipment into use.