FLA January stats quash broker fears10/03/2017
New figures for January, released by the Finance & Leasing Association (“FLA”) show that asset finance new business grew by 16pct in January, compared with the same month in 2016.
The January stats included broker driven activity showing a rise of 27pct (!) which was heartening as the recent talk in the broker industry had been about a quiet early January for some, indeed BrokerWorld had noted in its January edition DATA page that Q4 2016 was the first time in 3 years that a quarter was lower than the year previous.
Howsoever, all is good, with the FLA figures supporting more recent anecdotal evidence of an upturn as the weeks have gone by. At BrokerWorld we did a quick bit of maths to check the assumption that quarter-end deals, and unfulfilled quarter-end demand, often overflow into the following month. So we compared the Oct-Dec 2016 quarter moving averages for total new Broker business, with Nov-Jan 2017 quarter moving averages.
The results support the notion that quarter-end business and demand did indeed spill over into the following month, in this case, as the Oct-Dec quarter comparison showing the disappointing -1.2pct drop (£1.333Bn vs £1.349Bn), was trumped by the Nov-Jan comparison of +8.27pct growth (£1335Bn vs £1233Bn).
The full FLA stats can be viewed HERE.