The dynamics of loans to households and businesses confirms a slight decline: the annual change is equal to -3,1% in May 2013, the same value as April 2013. This is what emerges from the monthly report of the ABI, according to which the trend is in line with the evolution of the main macroeconomic variables (GDP and Investments).
The slowdown in loan dynamics is generalized in all major European countries, with the exception of France. In particular, when the dynamics of the credit intensity index are considered, i.e. the ratio between credit and GDP, in order to take into account the different tone of the real cycle of the different countries of the Euro Area, it is noted that in the first quarter of 2013 the Italian figure (-0,6%) is not only above the area average figure (-1,4%), but also above the German figure (-1,1%) and obviously the Spanish figure (-7,4%). Only the French experience has better characteristics (+0,6%).
