Germany & France continue to underperform the rest of the region, IFO & INSEE business indicators have also disappointed. Yet, Germany consumer confidence has improved with a higher propensity to buy led by income expectations but remains weak as seen with high saving ratio. pic.twitter.com/uMP6kujXzX
— Sabrina Khanniche (@skhanniche) July 26, 2024
Early signs of rising overnight deposits, which had been on a downward trend since H2 2022. Credit growth stopped contracting, with an increase over the month led by firms & short-term loans, supported by the rate cut in June. But, demand for long-term loans stays weak. pic.twitter.com/21NbZEZE2y
— Sabrina Khanniche (@skhanniche) July 26, 2024
The credit impulse was positive in Q2 for the first time since Q3 2022 improving in line with the ECB Bank Lending Survey. Banks expect rising loan demand from corporates in Q3 but further net tightening. The credit drag on growth should reduce with peaking financing conditions. pic.twitter.com/H4q07tnTvP
— Sabrina Khanniche (@skhanniche) July 26, 2024