Central Bank figures show the demand for credit is still falling

THE Central Bank’s credit figures for March show the demand for credit continues to decline as the economy continues to be undermined by weak demand.

“The bottom line is that demand for private-sector credit remains very weak. And it is hard to see things changing dramatically until economic conditions improve,” according to Bloxham Stockbrokers economist Alan McQuaid.

However, he said: “We think the worst is now over as regards the Irish economic downturn, and the risks to GDP growth are to the upside rather than the downside. So, assuming banks ease lending restrictions in the coming months, demand for credit should start to rise again.”