Eurozone Private Sector Lending Growth Slows

(RTTNews) - Growth in the euro area money supply and loans to the private sector eased in November, data from the European Central Bank revealed on Thursday.

The broad money supply M3 growth eased to 4.8 percent in November from 5.1 percent in October. The narrow measure M1 also grew at a weaker pace of 2.4 percent after rising 3.8 percent in the previous month.

In the three months to November, M3 growth averaged 5.4 percent, data showed.

Credit to the private sector posted an annual increase of 5.0 percent, slower than October's 5.2 percent rise. Similarly, growth in adjusted loans to the private sector eased to 6.3 percent from 6.5 percent.

Among the borrowing sectors, adjusted loans to households moved up 4.1 percent, slightly slower than the 4.2 percent rise in October. At the same time, the annual growth in loans to companies slowed to 8.4 percent from 8.9 percent.