Credit Conditions On The Mend In The UK

There’s good news today concerning the state of credit conditions in the UK.  The Bank of England concluded in a report that small businesses need loans less than they used to, while at the same time, loans are becoming easier for them to get.

These facts come courtesy of the appropriately named "Credit Conditions Survey" report covering the third quarter of this year.  Actual survey answers were collected between August 13th and September 3rd.

As for what the Bank of England found, the report stated, "The overall availability of credit to corporates was reported to have increased for a seventh consecutive quarter, with a larger increase reported in availability to small businesses than for larger companies.  Overall availability was not expected to change in Q4."

Then here’s the additional bit of positive news: "Among small businesses demand fell unexpectedly over the previous three months, but was not expected to change over the next three months."

So it looks like conditions are getting quite a lot better in this respect.  Add to that the fact that the market (again) hasn’t crashed today, and there’s all sorts of stuff to semi-celebrate.

The Bank of England’s survey covering the fourth quarter of this year should be released on January 6th if you’d like to start anticipating the next time we’ll get an update on these stats.