Eurozone Corporate Lending Growth Slowed in October
Corporate lending growth in the Eurozone slowed last month. The European Central Bank reported, that growth in lending to non-financial businesses increased by 3.9% year-on-year in October, after hitting a post-crisis high of 4.3% in September. The October’s indicator showed the slowest pace since May.
It was also reported, that growth in credit to households came in at 3.2% in October, stable from September's revised reading. Credit to the private sector rose 3% year-on-year, same as in the previous month.
Monetary aggregate M3 grew 3.9% year-on-year after a 3.6% increase in September, revised from 3.5%. Economists had forecast 3.5% increase. The latest growth was the highest since July, when the gain was 4% The narrower measure, M1, which comprises currency in circulation and overnight deposits, grew 6.8% year-on-year, the same pace as in the previous month.