Home Finance Euro zone business lending picked up

Euro zone business lending picked up

Lending to euro zone companies accelerated for the third straight month. European Central Bank data showed that reversing in part a steady decline in the early part of the year. Lending to euro zone businesses expanded by 2.9% last month. A pick-up from 2.5% in October.

But well below the 7% recorded a year earlier. Household lending growth rose to 4.2% from 4.1%, holding broadly steady over the past six months. The annual growth rate of the M3 measure of money supply. This is mostly a reflection of the ECB’s copious bond purchases. And that dropped to 7.3% from 7.7%, which is below market expectations for 7.6% growth.

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