On 23 March 2015 Charles Thorburn reported a change of direction on the supply side in the three months to December 2014. On the demand side its index finished only four tenths of a point above neutral.
The final 2014 reading
| Quarter | Credit demand | Credit supply |
|---|---|---|
| Q4 2014 | 50.4 | 38.9 |
Supply had stood at 66.0 in the preceding quarter. At 38.9 it crossed below the 50-point baseline. Demand fell from 60.7 to 50.4, so the indicator signalled little change in appetite for borrowing. Neither reading is a percentage change in borrowing or in the amount lenders had on their books.
Fewer SMEs surveyed felt they had received the bank loan they wanted. Lenders still reported increases on both measures, but borrower responses and the quantitative data pulled the overall supply reading below 50.
This release used the original C2C demand and supply measures. The 2015 publication uses a different pair of indices. Comparing the releases means reading each against its own baseline and definitions.
Sources and further reading
- Historical CreditSquare page (Wayback Machine) — checked 2026-11-08