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Drop in Slovakian leasing contracts
There has been a large fall in the number of new leasing contracts in Slovakia, according to new data from the Slovak Leasing Association (ALSSR).
Contracts fell in number by more than 40 per cent in the first three months of the year, compared with the same period in 2008.
The volume of new leasing contracts for the first quarter of 2009 stood at €362 million (£315 million), a 42.9 per cent year-on-year fall.
While the leasing market as a whole recorded 6.5 per cent growth over the whole of last year, many sectors reported the impact of the economic downturn in their figures for the second half of 2008.
The truck industry recorded a "drastic" drop beginning in the third quarter of 2008, according to Juraj Ebringer, head of the ALSSR board of directors.
"But all other commodities, except for immovable assets, reported a decrease too," he added.
Lease penetration is very high in Slovakia, relative to other European countries, covering 32 per cent of all movable investments last year.
