LONDON (Reuters) - One in 10 service sector companies in the EU and more than 3 in 10 Russian companies say difficulties in raising credit are constraining their businesses, according to a survey published on Monday.
Markit said the April survey of 3,900 companies in the sector -- ranging from telecom providers to restaurants -- showed tougher borrowing terms had become a much bigger problem than they were a year earlier.
As investors and policymakers look for signs the worst of the global financial and economic crisis is over, the survey "provides a timely reminder that bank lending remains a problem and is likely to subdue recoveries in many countries," Markit's chief economist Chris Williamson said.
The survey covers European Union countries and the major emerging economies, Brazil, Russia, India and China.
It shows the proportion of companies reporting that tighter credit is restraining their business has jumped to 8.2 percent in the BRIC countries, four times the level in April 2008, and to 9.8 percent in the EU, more than double last year's level.
Russian companies reported the greatest problems with credit: 31 percent said tight borrowing was cramping business, compared with just over 10 percent a year ago.
The survey showed businesses in Spain as the second hardest hit with some 18 percent reporting credit constraints compared with 8 percent a year ago.
Britain reported one of the sharpest increases, with 10 percent of businesses saying credit was a constraint compared with 2 percent a year ago.
Germany was the only country where service providers said terms had eased. Just 2 percent of German companies said they were constrained by tight credit, compared with 3 percent a year ago.
Markit said demand for credit had risen in all countries compared with 3 months ago. But "in every case, with the notable exceptions of India and China, the availability of credit had deteriorated over the past three months, constraining business in almost 1 in 10 companies on average -- more than double the figure a year ago," it said in a statement.