News Column

Eurozone June M3 Growth Rises, Private Sector Lending Falls Again

July 25, 2014

BRUSSELS (Alliance News) - Eurozone money supply growth accelerated again in June, while lending to private sector continued to fall, data from the European Central Bank showed Friday.

The broad money supply, M3 increased 1.5% year-on-year in June, faster than the 1% rise seen in May and 1.2% growth forecast by economists.

Likewise, the increase in M1 growth accelerated to 5.3% from 5% in May.

In June, credit extended to the private sector was down by 2.2% versus 2.6% fall in the previous month. Among the components of private sector credit, loans slid 1.7% versus 2% fall a month ago.

Further, loans to households were down 0.6% and lending for house purchases decreased 0.4% from last year.

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Source: Alliance News

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