28 July 2009: Veda Advantage’s Business Credit Demand Index, released today, reveals business credit applications for the second April to June quarter of 2009, fell by 2.1%. Although credit applications were still down, this was a steady improvement from the January to March quarter, which fell by 8.3% compared to the same quarter in 2008.
In comparison to the previous January to March quarter 2009, business applications for credit were up more than 22% in the April to June quarter. The month of June recorded the first positive credit growth since December 2007. Business credit applications for the July 1 2008 to June 30 2009 financial year ended down 6.6% compared to the previous 2007/2008 financial year.
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