"Although lenders expected a small increase in overall credit availability in the coming three months," the Bank of England warned, "factors such as the economic outlook and tighter wholesale funding conditions were expected to impact negatively on credit availability."
It added: "Lenders commented that developments in the euro area and their impact on banks' funding conditions would be a key determinant of credit availability over the coming quarter." That last clause looks ominous. Any positive news? Defaults on household secured loans have slipped fallen but expectations - should conditions deteriorate - that the situation could reserve have simultaneously risen.
Services to the rescue?Meanwhile new data has emerged on the impact of the UK's over-weening services sector in the last quarter - which appears to have helped pull the UK economy away from the jaws of a contraction. Just. Service sector activity expanded at its fastest clip since the summer, industry data showed on Thursday.
Don't believe everything you read...