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Financial News: Eurozone M3 Growth Eases In October

Eurozone M3 Growth Eases In October

11/28/2017 - 04:17:00 (RTTNews)

(RTTNews) - Eurozone money supply grew at a slower pace in October, the European Central Bank said Tuesday.

The broad monetary aggregate M3 grew 5 percent annually, following September's revised 5.2 percent increase. The expected rate was 5.1 percent.

Likewise, the annual growth in narrow money supply, M1, eased to 9.4 percent from 9.8 percent.

Data showed that credit to general government climbed 7.4 percent versus 8.4 percent in September. At the same time, the annual growth rate of credit to the private sector came in at 2.9 percent versus 2.8 percent a month ago.

The annual growth rate of adjusted loans to the private sector increased to 2.9 percent from 2.7 percent. In particular, the annual growth rate of adjusted loans to households held steady at 2.7 percent in October.

Further, loans to non-financial corporations improved to 2.9 percent from 2.4 percent a month ago.

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