Eurozone Money Supply Growth Slows; Private Sector Lending Improves

Eurozone money supply increased at a slower pace in November and annual growth in loans to households improved from October, the European Central Bank reported Wednesday.

The broad monetary aggregate M3 climbed 5.1 year-on-year in November, slower than October’s 5.3 percent increase and a 5.2 percent rise forecast by economists.

The narrower aggregate M1, which includes currency in circulation and overnight deposits, showed an annual growth of 11.2 percent versus 11.8 percent rise in October.

At the same time, the annual growth rate of loans to households improved to 1.4 percent in November from 1.2 percent in October.

Further, data showed that annual growth rate of total credit to euro area residents rose to 2.7 percent in November from 2.3 percent in the previous month. Likewise, credit to the private sector increased 1.2 percent after rising 1 percent a month ago.

The material has been provided by InstaForex Company –