ROSLYN HEIGHTS, NY – Repossessions of construction equipment dropped by 53 percent during the four quarters of 2004, according to Nassau Asset Management?s NasTrac Quarterly Index (NQI). When averaging all four quarters, the annual volume of construction repossessions was down 6 percent compared with 2003.
?Nassau?s repossessions index shows that construction companies were able to honor their lease and loan commitments at a much higher rate in 2004,? says Ed Castagna, senior executive vice president of Nassau, who will speak at the Construction Industry Roundtable session Feb. 15 during the Equipment Leasing Association?s (ELA) Equipment Management Conference in Tucson, Arizona.
?The trend provides yet another economic indicator that construction spending has strengthened considerably in the past year and should continue to do so in 2005,? Castagna says.
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