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Financial News: Eurozone M3 Growth Rises; Private Sector Credit Expands

Eurozone M3 Growth Rises; Private Sector Credit Expands

10/26/2017 - 05:23:00 (RTTNews)

(RTTNews) - Eurozone broad money supply rose at a faster pace and private sector credit logged a stable growth in September, data from the European Central Bank showed Thursday.

The broad monetary aggregate M3 climbed 5.1 percent year-on-year, slightly faster than the 5 percent increase seen in August. M3 was forecast to grow again by 5 percent in September.

The annual growth rate of credit to the private sector came in at 2.8 percent in September, the same as in August.

At the same time, adjusted loans to the private sector grew 2.7 percent after rising 2.6 percent.

In particular, loans to households rose at a steady pace of 2.7 percent in September, while the growth in loans to non-financial corporations improved to 2.5 percent from 2.4 percent in August.

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