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Financial News: Sweden Household Lending Growth Slows In June

Sweden Household Lending Growth Slows In June

07/25/2019 - 04:20:00 (RTTNews)

(RTTNews) - Swedish household lending growth slowed in June after stabilizing over the past three months, data from Statistics Sweden showed on Thursday.

The annual growth rate of loans to households from monetary financial institutions eased to 4.9 percent from 5 percent logged in each of the past three months.

Households' loans totaled SEK 4.109 billion in June, which was an increase of SEK 24 billion from the previous month and SEK 193 billion from a year ago. Housing loans grew 4.9 percent annually in June and accounted for 82 percent of total lending to households during the month.

Consumer credit growth decreased by 1.2 percentage points from May to 6 percent. Official data also showed that the annual growth in lending to non-financial businesses slowed to 5.2 percent from 6.1 percent. The annual growth in the broad money aggregate M3 slowed to 6.4 percent from 7.5 percent and that of the narrow monetary aggregate M1 fell to 6.8 percent from 7.3 percent.

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