On 12 December 2014 Charles Thorburn reported that both UK SME credit indices showed increases over the three months to September. Demand rose further above the neutral point. Supply moved closer to it.
The quarter in context
| C2C index | Q2 2014 | Q3 2014 | Change in points |
|---|---|---|---|
| Demand | 56.0 | 60.7 | +4.7 |
| Supply | 86.1 | 66.0 | −20.1 |
The fall in the supply index can be easy to misread. Its Q3 value still lay 16 points above 50, the dividing line for the direction of change. The measure indicated less expansion than in Q2. It did not measure the amount of money available to any individual borrower.
Borrowers described wanting more funding while perceiving less supply. More business owners put personal money into their companies. The lender surveys and quantitative measures were more positive, which helps explain why the two composite scores still indicated expansion.
Read the original launch for the scale and purpose of the series, or the Q4 release for the first of these three supply readings to fall below neutral.
Sources and further reading
- Historical CreditSquare page (Wayback Machine) — checked 2026-11-08
- First-quarter comparison (Q2 2014) — checked 2026-11-08