Lending to Finance New Company Equipment Robust in September

Companies took on $8.2bn in loans, leases and lines of credit to fund equipment purchases in September, 16 percent more than $7.1bn a year earlier and 19 percent above August' s $6.9bn, the industry group said. That was the highest monthly amount since the $10.8bn year-end jump in December 2011.

While September's borrowing rise is "encouraging," most borrowing is used to replace aging equipment rather than for expansion, William Sutton, the group's chief executive, said.

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