Eurozone Lenders To Tighten Credit Standards For Loans To Firms, Demand To Fall - ECB

RTTNews | 151 дней спустя

(RTTNews) - Eurozone lenders intend to tighten conditions for loans to firms in the second quarter and they expect a fall in demand for loans from enterprises, the bank lending survey results from the European Central Bank showed on Tuesday.

Lenders plan to moderately tighten credit standards for loans to firms and maintain credit standards for loans to households in the second quarter.

There was a small net tightening of credit standards for loans to enterprises in the first quarter.

For the first time since the fourth quarter of 2021, banks moderately eased the standards for loans to households for house purchase. Meanwhile, credit standards for consumer credit and other lending to households were tightened further in the first quarter.

The survey showed a substantial decrease in demand from firms for loans or drawing of credit lines, in contrast to bank expectations of a recovery.

Demand for housing loans posted a small drop, while demand for consumer credit and other lending to households remained broadly stable in the first quarter.

The fall in demand largely caused by higher interest rates, lower fixed investment for firms and lower consumer confidence for households.

Banks now forecast a moderate fall in demand for loans to firms and a net increase in demand for loans to households in the second quarter of 2024.

Expectations for the second quarter moderated a bit suggesting that the bank lending environment is set to remain very subdued in the coming months, ING economist Bert Colijn said.

The economist observed that tight monetary policy is still having a restrictive effect.

The survey revealed that ongoing central bank balance sheet reduction continued to exert tightening pressure.

The survey was conducted between February 29 and March 15. A total of 157 banks were surveyed, with a response rate of 100 percent.

Тэгов: EUR

Eurozone GDP Growth Slows In Q2

Euro area economic growth rate for the second quarter was revised down as the positive contributions from government consumption and net trade were partially offset by the slump in investment. Gross domestic product grew 0.2 percent from the first quarter, which was revised down from 0.3 percent estimated initially, data from Eurostat showed on Friday.

RTTNews | 1 дней спустя

German Industrial Production Drops More Than Forecast; Trade Surplus Falls

Raising fears of a recession, Germany's industrial production declined more than expected in July on weaker automotive output and the trade surplus contracted in July as the growth in imports exceeded the rise in exports. Industrial production decreased 2.4 percent month-on-month in July, in contrast to the increase of 1.7 percent in June, Destatis reported Friday. Output was forecast to fall 0.

RTTNews | 1 дней спустя

Eurozone Retail Sales Rise Marginally In July

Eurozone retail sales grew only marginally in July, suggesting subdued support from household consumption to economic growth. Retail sales posted a monthly growth of 0.1 percent in July, reversing a 0.4 percent fall in June, data published by Eurostat showed on Thursday. The decline reflects a 1.0 percent drop in automotive fuel sales. Food, drinks and tobacco sales rebounded 0.4 percent.

RTTNews | 2 дней спустя

German Factory Orders Unexpectedly Expand In July

Germany's factory orders grew unexpectedly in July largely due to the surge in demand for transport equipment, official data revealed Thursday. Incoming new orders advanced 2.9 percent on a monthly basis in July following June's revised 4.6 percent expansion, Destatis reported. Orders were forecast to fall 1.6 percent. Excluding large orders, new orders dropped 0.4 percent from June.

RTTNews | 2 дней спустя

Eurozone Private Sector Growth At 3-Month High

The euro area private sector expanded at the fastest pace in three months in August underpinned by strong upturn in services activity, final survey results from S&P Global showed on Wednesday. The HCOB composite output index posted 51.0 in August compared to 50.2 in July. The final reading was slightly below the initial estimate of 51.2. The score signaled a re-acceleration of growth.

RTTNews | 3 дней спустя

Eurozone Factory Activity Continues To Shrink

Eurozone manufacturing activity continued to contract in August due to the downturn in factory output and deeper decline in new orders. The HCOB final manufacturing Purchasing Managers' Index posted 45.8 in August, unchanged from June and July, final data from S&P Global showed Monday. The August reading was revised up from 45.6. The score signaled another sharp deterioration in operating condit

RTTNews | 5 дней спустя

German Unemployment Rises Less Than Forecast

German unemployment increased less than expected in August despite weak economic activity, official data revealed Friday. The jobless rate stood at 6.0 percent in August, the same rate as seen in July and June, the Federal Employment Agency reported.

RTTNews | 8 дней спустя

French Inflation Slows To 3-Year Low; Economy Logs Slower-Than-Estimated Growth

French inflation slowed to a three-year low in August due to the sharp slowdown in energy price growth and the economy registered a slower-than-initially estimated growth in the second quarter on weaker contribution from trade and subdued investment, official data revealed Friday. The consumer price index posted an annual increase of 1.9 percent after rising 2.3 percent in July, provisional data

RTTNews | 8 дней спустя

EURUSD	1.1084	GBPUSD	1.3131	AUDUSD	0.66691
USDJPY	142.274	USDCAD	1.34359	USDCHF	0.8429