Eurozone Money Supply Growth Rises In June

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Eurozone money supply growth accelerated in June, while growth in private sector credit slowed marginally, data published by the European Central Bank showed Monday.

The monetary aggregate M3 grew 9.2 percent on a yearly basis in June, faster than the 8.9 percent rise in May. The rate was expected to climb to 9.3 percent.

The narrow measure, M1, growth rose slightly to 12.6 percent from 12.5 percent in May.

In three months to June, the broad measure M3 growth came in at 8.8 percent.

Further, data showed that annual growth rate of credit to the private sector slowed marginally to 4.8 percent in June from 4.9 percent in May. Adjusted loans to the private sector also advanced 4.8 percent, slower than the 5.3 percent rise in the previous month.

Adjusted loans to households grew at a steady pace of 3 percent, while growth in loans to non-financial corporations eased to 7.1 percent from 7.3 percent in May.

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