A clear picture has emerged of the impact of the pandemic on leasing volumes in Europe during 2020, according to Acquis Insurance Finance.
The sharp depression in leasing volumes experienced when the coronavirus hit in March and April last year, was followed by a positive recovery period during Q3, according to its Index of performance indicators for 2020.
However, this recovery failed to continue its strong upward trajectory during Q4 when we witnessed leasing volumes across Europe levelling off.
This was to be expected as the optimism of a return to some form of normality during the late summer months was replaced with trepidation as European nations braced to withstand the additional pressures that winter would bring in managing the virus re-entered lockdown and imposed cross-border restrictions on non-essential travel.
A look at year-on-year data reveals that volumes were tracking at around 25% below 2019 for the last few months of the year, according to Acquis data.
Still, certain leasing sectors, including office and computer equipment, outperformed other areas in recovery as businesses and workforces adapted well to new working environments, Acquis said in a statement.