🧵 1. European banks report record decline in loan demand, according to ECB survey. Fastest pace since 2003, raising concerns over economic growth. #finance
🧵 1. European banks report record decline in loan demand, according to ECB survey. Fastest pace since 2003, raising concerns over economic growth. #finance
🧵 2. ECB reveals banks tightening credit standards for consumers and businesses, despite smaller percentage than previous quarter. NPL ratios remain steady.
🧵 3. Demand for mortgages drops sharply, ECB anticipates further decline in Q3. Weakening investment activity expected to dampen inflation but hinder economic recovery.
🧵 4. German IFO data confirms economic slowdown, pointing to re-weakening after technical recession. September ECB rate hike odds plummeting amidst PMI and lending survey results.
🧵 5. Concerns arise as ECB lending survey shows European banks facing collapse in loan demand, while US Fed's SLOOS data release awaited. Consequences for banks reporting inaccurately questioned.
🧵 Read more at: https://www.zerohedge.com/markets/eu-banks-see-record-collapse-loan-demand