Eurozone Money Supply Growth Rises; Private Sector Credit Growth Eases
Eurozone money supply grew at a faster pace in November, and the growth in private sector credit eased marginally, the European Central Bank reported Tuesday.
The broad monetary aggregate M3 grew 11 percent on a yearly basis, following a 10.5 percent rise in October. In three months to November, M3 growth averaged 10.6 percent.
The narrow measure M1 growth improved to 14.5 percent from 13.8 percent a month ago.
As regards the dynamics of credit, the annual growth rate of credit to the private sector came in at 4.8 percent in November, compared with 4.9 percent in October.
The annual growth rate of adjusted loans to the private sector improved to 4.7 percent from 4.6 percent in October.
Among the borrowing sectors, adjusted loans to households grew at a slightly slower pace of 3.1 percent following a 3.2 percent rise in October. Meanwhile, the annual growth rate of adjusted loans to non-financial corporations rose to 6.9 percent from 6.8 percent in October.