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Key data highlights:
Commenting on the data, Stephen Pegge, Managing Director, Commercial Finance at UK Finance said:
As we approach year end, overall lending to businesses has remained subdued in this period of economic uncertainty, with a slight contraction from last November. However, lending to manufacturing, transport and service industries have all seen strong annual increases.
Business deposits have continued to grow, with transport and personal services in particular showing a large increase, further indicating a cautious approach by businesses to trading conditions.
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<ol><li>For more information please call the UK Finance Press Office on 020 7416 6750 or e-mail <a href="mailto:press@ukfinance.org.uk">press@ukfinance.org.uk</a>.</li> <li>UK Finance is the collective voice for the banking and finance industry. Representing more than 250 firms across the industry we help drive forward positive change to enhance standards, support customers and promote innovation.</li> <li>Data in this update reflect lending and deposit activity conducted by UK large, medium and small businesses with the main high street banks. This coverage reflects around three-quarters of UK business finance provided by all banks and building societies.</li> </ol>
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