March 21 (Reuters) -
Companies signed up for
"Momentum spurred on by recently enacted tax changestogether with an economy beginning to hit on most, if not all,cylinders, is creating a compelling demand cycle for capitalequipment acquisition by American businesses, large and small,"ELFA Chief Executive Ralph Petta said in a statement.
ELFA's leasing and finance index measures the volume ofcommercial equipment financed in
ELFA's index is based on a survey of 25 members that includeBank of America Corp, BB&T Corp, CIT Group Incand the financing affiliates or units of Caterpillar Inc, Deere & Co, Verizon Communications Inc,Siemens AG, Canon Inc and Volvo AB.
The Equipment Leasing & Finance Foundation, ELFA'snon-profit affiliate, said its confidence index fell to 72.2 inMarch from 73.2 in February.
A reading of above 50 indicates a positive outlook.(Reporting by Sanjana Shivdas in Bengaluru; Editing by AnilD'Silva)