UK Finance's Business Finance Update for July 2018 reveals:
• Lending to manufacturers grew by 7.1% in the last 12 months, in contrast to a wider 2.2% contraction overall in UK business borrowing.
• UK business deposits for non-financial companies grew by 1.9% in the last 12 months.
Commenting on the data, Stephen Pegge, managing director, commercial finance at UK Finance said:
"Lending to businesses saw modest net positive growth for the second month in a row, driven largely by increased borrowing in the manufacturing sector.