Eurozone M3 Money Supply Growth Quickens; Loans To Private Sector Fall

(RTTNews) - Eurozone's broadest measure of money supply grew at a slightly faster pace in November, data from the European Central Bank showed Friday.

The annual growth rate of M3 was 1.5 percent in November compared with 1.4 percent in October. The annual growth rate of M1 stood at 6.5 percent in November.

Loans extended to the private sector declined 2.3 percent year-on-year in November, following a 2.2 percent fall in October. Meanwhile, loans to households increased 0.1 percent annually following 0.2 percent rise in the previous month.

The annual growth rate of lending for house purchase, the most important component of household loans, stood at 0.9 percent in November, unchanged from the previous month.

Loans to non-monetary financial intermediaries, excluding insurance corporations and pension funds, fell 9.1 percent from a year earlier in November. This followed an 8 percent decline in the previous month.