31.12.200808:22:00UTC+00Irish Private Sector Credit Growth Slows In November

Ireland's private sector credit annul growth slowed to 8.4% in November from 8.9% in October, the central bank said Wednesday. The annual rate of increase has fallen to around half that of November 2007, when it was 17.1%. Outstanding private sector credit increased EUR539 million in November, mostly by way of lending to non-financial corporations.

Residential mortgage lending was weak in November, with a net increase of EUR96 million, or 0.07%. This brought the year-on-year increase down to 6.7% in November from 7.6% in October - the lowest annual rate of increase since 1986.

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