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Access to credit rises for third quarter in succession
The rate of deterioration in credit conditions slowed further over the past three months and conditions are expected to stabilise in the months ahead, according to a survey by the Confederation of British Industry (CBI).
A net total of 20% of companies reported a fall in the availability of new credit in the three months to May, compared with 36% in the previous quarter and 62% who saw this in the three months to January.
"Credit availability is still a concern, but the severity of the situation is easing compared with a few months ago," said Ian McCafferty, chief economic adviser to the CBI.
The survey also revealed that firms expect no further deterioration in existing credit in the next few months and only a slight decline in new credit.
Post Date: June 2nd, 2009
A net total of 20% of companies reported a fall in the availability of new credit in the three months to May, compared with 36% in the previous quarter and 62% who saw this in the three months to January.
"Credit availability is still a concern, but the severity of the situation is easing compared with a few months ago," said Ian McCafferty, chief economic adviser to the CBI.
The survey also revealed that firms expect no further deterioration in existing credit in the next few months and only a slight decline in new credit.
Post Date: June 2nd, 2009
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