29.01.202008:45:00UTC+00Eurozone M3 Rises At Slower Pace; Private Sector Credit Growth Improves

Eurozone broad money supply grew at a slower pace in December and private sector credit growth accelerated, data from the European Central Bank showed Wednesday.

The broad monetary aggregate, M3 increased 5 percent in December from last year, but slower than the 5.6 percent rise in November. The narrow measure, M1 growth slowed to 8 percent from 8.3 percent in November.

Credit to euro area residents rose at a steady pace of 2 percent, while that to general government declined 1.8 percent.

Annual growth of credit to private sector increased 3.4 percent, following a 3.2 percent rise in November. Likewise, adjusted loans to the private sector increased 3.7 percent after rising 3.6 percent.

Meanwhile, growth in loans to non-financial corporations eased to 3.2 percent from 3.4 percent.