Lending to non-financial and private businesses in the U.K. fell in January, though sharply below the average amount for the preceding six months, according to the British Bankers Association. The BBA reports that lending to those businesses dropped by £300 million ($483.78 million), slightly below the December figure, and dramatically lower than the six-month average of £1.7 billion ($2.74 billion). In related news, the Bank of England reports that credit conditions are improving for large corporations, though costs to borrowing are significantly higher than before the financial crisis.
