Ifo: Credit Constraints For German Indus, Trade Eased In Oct

BERLIN -(Dow Jones)- Credit constraints on German industry and trade were eased in October, although big companies still face restrictive lending conditions, Germany's Ifo institute for economic research said Friday.

The institute's credit constraints indicator for industry and trade, in which companies assess banks' lending policies as restrictive, fell to 41.7% from 43.7% in September.

"The credit hurdle for German industry and trade was at a slightly lower level in October," said Ifo President Hans-Werner Sinn. "However, this decline is no cause for concluding that the financing situation has eased. Especially, large firms are faced with restrictive bank credit awarding practices."

The credit constraint for manufacturing companies eased for businesses of all sizes, but most of all for small companies. Financing conditions also improved for wholesalers and retailers, but the construction sector bucked the trend, with 47.1% now saying credit conditions have deteriorated, compared with 46.5% in September.

The survey is based on 4,000 responses from companies in industry and trade from the manufacturing, construction, wholesale and retail sectors.

Web site: www.cesifo-group.de

-By Andrea Thomas, Dow Jones Newswires; 49-30-288-8410; andrea.thomas@dowjones.com

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October 30, 2009 06:15 ET (10:15 GMT)


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