FRANKFURT (MNI) – The recovery in Germany is not being constrained
by banks’ lending practices, Germany’s Ifo Institute reported Wednesday
in its monthly credit indicator.
Only 31.6% of surveyed firms complained about restrictive bank
lending policies in July, compared with 34.0% in June. In July of last
year, the credit hurdle reached its peak during the crisis at 45.1%, Ifo
said.
“The recovery in Germany is currently not being constrained much at
all by banks’ lending practices,” Ifo said.
Just as in June, the credit hurdle dropped in all surveyed sectors
in July. In manufacturing, “the complaints about restrictive lending
policies were fewer among all company sizes,” Ifo reported.
“For large companies the credit hurdle fell by 2.8 percentage
points to 36.7% and for mid-sized companies by 2.9 percentage points to
30.0%,” Ifo said.
“The strongest easing was for small manufacturers where the credit
constraints weakened by 5.2 percentage points to 30.5%,” Ifo added.
In construction, 38.2% of survey participants said that access to
credit was difficult, 2.1 percentage points less than June’s result. In
wholesale/retail, the credit hurdle dropped by 1.5 percentage points in
July to 28.5%.
Germany’s Bundesbsank also reported Wednesday that its survey of
banks in Germany did not show a looming credit crunch in Germany over
the next twelve months.
–Frankfurt bureau; +49-69-720142; frankfurt@marketnews.com
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