Eurozone Private Sector Credit Growth Weakens

(RTTNews) - Lending to the euro area private sector weakened in November, data released by the European Central Bank showed on Thursday.

Adjusted loans to the private sector grew at a slower pace of 1.5 percent after rising 1.7 percent in October.

Among the borrowing sectors, adjusted loans to households climbed 0.9 percent compared to 0.8 percent in October. Meanwhile, growth in loans to businesses softened to 1.0 percent from 1.2 percent.

Data showed that claims on the private sector posted an annual growth of 1.3 percent in November compared with 1.2 percent in the previous month.

The year-on-year growth in narrow monetary aggregate M1, comprising currency in circulation and overnight deposits, increased notably to 1.5 percent from 0.2 percent in October.

The broad measure M3 growth improved to 3.8 percent from 3.4 percent in the previous month.