2017.07.2704:18:00UTC+00Eurozone M3 Growth Rises Slightly In June

Eurozone monetary aggregate rose at a slightly faster pace in June, the European Central Bank reported Thursday.

The M3 broad monetary aggregate climbed 5 percent annually, slightly faster than the revised 4.9 percent growth logged in May.

Economists had forecast M3 growth to remain unchanged at May's initially estimated increase of 5 percent.

The narrower aggregate M1, which includes currency in circulation and overnight deposits, increased 9.7 percent in June versus 9.3 percent in May.

Annual growth rate of credit to the private sector increased to 3.1 percent in June from 2.9 percent in May. Meanwhile, adjusted loans to the private sector increased at a weaker pace of 2.5 percent after rising 2.7 percent a month ago.

The annual growth in loans to households held steady at 2.6 percent in June and loans to non-financial corporations gained 2.1 percent versus 2.5 percent rise in May.