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Credit constraints for German industry, trade remain unchanged in May: Ifo

Xinhua, May 31, 2016 Adjust font size:

The credit constraints for German industry and trade companies in May remained at the same level as in April, the research institute Ifo reported on Tuesday.

According to the report, the percentage of companies reporting problems in borrowing, remained unchanged at 14.2 percent in May.

The index in the manufacturing sector fell by 0.3 percentage point to 12.2 percent, a record low in the past year. Meanwhile, a record number of construction companies reported having no difficulties in gaining access to credit, the Munich-based think tank said.

However, the credit constraints in the wholesaling and retailing sector tightened somewhat.

"The financing environment for German companies remains very favourable," Clemens Fuest, president of the Ifo institute, said.

The credit constraint indicator is based on about 4,000 responses of firms in industry and trade from the manufacturing, construction, wholesaling and retailing sectors. Endit