Financial News: Eurozone Lending To Private Sector Rises In October

Eurozone Lending To Private Sector Rises In October

11/28/2024 - 07:25:00 (RTTNews)

(RTTNews) - Eurozone lending to the private sector increased in October at a steady pace, data published by the European Central Bank showed on Thursday.

Adjusted loans to the private sector grew 1.6 percent year-on-year in October, unchanged from the previous month.

Among borrowing sectors, annual growth in loans to households rose at a slightly faster pace of 0.8 percent after a 0.7 percent gain. Likewise, loans to non-financial corporations climbed 1.2 percent, slightly faster than the 1.1 percent rise a month ago.

Data showed that claims on the private sector reported a steady increase of 1.2 percent in October.

The monetary aggregate M3 posted an annual growth of 3.4 percent in October, in line with expectations, compared to 3.2 percent in September.

At the same time, the narrow measure M1 advanced 0.2 percent, in contrast to the 1.3 percent decline in September. This was the first expansion since December 2022.

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