The economic slowdown and weak investment activity of the fourth quarter of 2012 has severely impacted on lending growth in Germany at the start of the year. In its current Credit Market Outlook KfW expects a demand-driven decline of 6% in new lending to enterprises and self-employed professionals for the first quarter of 2013 (against the previous year).
New lending had already contracted by 2.3% in the fourth quarter. The situation will remain bleak in spring as well even as the economy picks up because demand for credit, especially for investment loans, only responds to an economic turnaround with a time lag.
"When Germany's upswing stabilises and enterprises invest more, demand for bank loans will also increase again", said Dr Jörg Zeuner, Chief Economist of KfW Bankengruppe. "Since there are no apparent restrictions on the supply side and access to credit remains good in general, I expect the trend to reverse and lending to pick up from the middle of the year."
The economic weakness at the end of last year and the significant decline in long-term project financings recently had a restraining influence on lending growth. Despite high investment requirements, the volume of launched projects dropped significantly in 2012.
For enterprises in search of finance, access to credit continues to be very good. There are no signs that banks are significantly tightening their lending criteria. Funding conditions also provide no grounds for German banks to restrict their credit supply because enough liquidity is available.
This is not affected by the end of the flight of Southern European deposits to Germany either. The development of the Target2 balances since autumn of 2012 shows that capital flows have reversed. Even if this is a sign that the euro crisis is starting to abate, southern Europe continues to suffer from a credit crunch that has to be fought vigorously.
The current edition of the KfW Credit Market Outlook is available in the Internet at www.kfw.de/kreditmarktausblick.Pressekontakt:
Christine Volk | presseportal
Microtechnology industry is hiring – positive developments of past years continue
09.04.2018 | IVAM Fachverband für Mikrotechnik
RWI/ISL-Container Throughput Index with minor decline on a high overall level
20.03.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung
In a recent publication in the renowned journal Optica, scientists of Leibniz-Institute of Photonic Technology (Leibniz IPHT) in Jena showed that they can accurately control the optical properties of liquid-core fiber lasers and therefore their spectral band width by temperature and pressure tuning.
Already last year, the researchers provided experimental proof of a new dynamic of hybrid solitons– temporally and spectrally stationary light waves resulting...
Scientists from the University of Freiburg and the University of Basel identified a master regulator for bone regeneration. Prasad Shastri, Professor of...
Moving into its fourth decade, AchemAsia is setting out for new horizons: The International Expo and Innovation Forum for Sustainable Chemical Production will take place from 21-23 May 2019 in Shanghai, China. With an updated event profile, the eleventh edition focusses on topics that are especially relevant for the Chinese process industry, putting a strong emphasis on sustainability and innovation.
Founded in 1989 as a spin-off of ACHEMA to cater to the needs of China’s then developing industry, AchemAsia has since grown into a platform where the latest...
The BMBF-funded OWICELLS project was successfully completed with a final presentation at the BMW plant in Munich. The presentation demonstrated a Li-Fi communication with a mobile robot, while the robot carried out usual production processes (welding, moving and testing parts) in a 5x5m² production cell. The robust, optical wireless transmission is based on spatial diversity; in other words, data is sent and received simultaneously by several LEDs and several photodiodes. The system can transmit data at more than 100 Mbit/s and five milliseconds latency.
Modern production technologies in the automobile industry must become more flexible in order to fulfil individual customer requirements.
An international team of scientists has discovered a new way to transfer image information through multimodal fibers with almost no distortion - even if the fiber is bent. The results of the study, to which scientist from the Leibniz-Institute of Photonic Technology Jena (Leibniz IPHT) contributed, were published on 6thJune in the highly-cited journal Physical Review Letters.
Endoscopes allow doctors to see into a patient’s body like through a keyhole. Typically, the images are transmitted via a bundle of several hundreds of optical...
13.06.2018 | Event News
08.06.2018 | Event News
05.06.2018 | Event News
22.06.2018 | Materials Sciences
22.06.2018 | Earth Sciences
22.06.2018 | Life Sciences