27.06.201805:37:00UTC+00Eurozone Private Sector Credit Growth Improves

Loans to Eurozone private sector increased at a faster pace in May, the European Central Bank said Wednesday.

Adjusted loans to the private sector grew 3.3 percent year-on-year in May, following April's 3 percent increase.

Among sectors, loans to households climbed at a steady pace of 2.9 percent. Similarly, loans to non-financial corporations gained 3.6 percent, faster than the 3.3 percent increase seen a month ago.

Data showed that the annual growth in broad monetary aggregate M3 accelerated to 4 percent from revised 3.8 percent in April. This was also slower than the expected 3.8 percent.

Likewise, narrower aggregate M1, comprising currency in circulation and overnight deposits, increased 7.5 percent after rising 7 percent in April.