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- Eurozone september money supply growth slows unexpectedly
Eurozone september money supply growth slows unexpectedly
Eurozone money supply growth slowed unexpectedly in September, while loans provided to the private sector decreased at a slightly slower pace, data showed Friday.
M3 money supply advanced 2.1 percent year-on-year in September, slower than the 2.3 percent rise seen in August, the European Central Bank said. The rate was forecast to rise to 2.4 percent.
Data showed that the decline in total credit granted to euro area residents deepened to 0.7 percent from 0.5 percent. Meanwhile, credit to general government grew 0.7 percent in September, but down from 2.1 percent in August.
The credit provided to the private sector was down by 1.1 percent in September, compared to a 1.2 percent drop in the previous month.
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