GERMANY: Credit constraints edge down to historic low

Credit constraints for German companies edged down to 16.1% in March from 16.2% last month, dipping to a new historic low for the third month in succession. Financing conditions for companies in Germany remain excellent.
In manufacturing credit constraints rose marginally to 13.9%. The number of small and medium-sized firms reporting problems obtaining bank loans rose slightly, while the number of large companies experiencing credit constraints fell.
In construction credit constraints fell to a new historic low of 20.4%. In the distributive sector, by contrast, the share of companies reporting restrictive access to credit rose to 16.3%.