Relevant:
- More Americans' credit scores sink to new lows
- China under mounting pressure to ease policy as producer prices continue 3-year slide
- Small U.S. firms face credit squeeze as crisis drags
- Banks Tighten Auto Lending as More Borrowers Fall Into Default
- Morgan Stanley Warns: Worst to Come for Dollar (+US ECON.; FED DOWN FOR COUNT)
2009-02-16 — reuters.com
According to data published by Markit, manufacturers in the UK appear to have been impacted harder by weaker demand than by tighter credit as a result of the financial crisis. Its figures show that although roughly 40 percent of British manufacturers said credit was harder to obtain in the past three months, only 20 percent found themselves needing to borrow more, and just 14 percent had been constrained by tighter credit. The research suggests the fall in industrial production at the end of last year is more the result of collapsing demand than cutbacks in lending.
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