U.S. banks reported an increase in demand for business loans for the first time in four years as
companies grow more confident in the expanding economy, a Federal Reserve survey shows.
“After reporting declining demand for C&I (commercial and industrial) loans for the past three years, domestic banks, on net, indicated in the January survey that loan demand from firms of all sizes had strengthened,” a reserve spokseman stated.
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Demand for commercial real estate loans in the last three months also increased for the first time since 2000, while home mortgage loans cooled, according to the January survey of senior loan officers at 56 domestic and 21 foreign banks.
The economy grew in the final six months of last year at a 6.1 percent pace, the fastest since the first half of 1984, according to government statistics. That’s prompted companies to boost spending on equipment and borrow from banks.
Bloomberg News
