BREAKING NEWS
This content is not available in your region

Euro zone corporate lending growth plunges in September

Access to the comments Comments
Euro zone corporate lending growth plunges in September
An employee holds 2 cent euro coins at the "Monnaie de Paris", national mint factory in Pessac, France, November 29, 2017. Picture taken November 29, 2017. REUTERS/Regis Duvignau   -   Copyright  REGIS DUVIGNAU(Reuters)
Text size Aa Aa

FRANKFURT (Reuters) – Bank lending to euro zone companies plunged last month, suggesting that the bloc’s economic slowdown is finally slowing lending after a period of surprising resilience, data from the European Central Bank showed on Monday.

Hoping to arrest a lengthy economic slump, the ECB approved a fresh stimulus scheme last month, partly aimed at banks so they would continue to provide credit to the real economy even as a long-expected recovery fails to materialize.

Corporate loan growth slowed to 3.7% in September from 4.3% a month earlier, its slowest rate since January. Household lending growth meanwhile held steady at 3.4%.

The annual growth rate of the M3 measure of money supply, which often serves as an indicator of future activity, slowed to 5.5% in September from 5.8% in August, underperforming expectations for 5.7%.

To read more about this data, please click: https://www.ecb.europa.eu/press/pr/stats/md/html/index.en.html

(Reporting by Balazs Koranyi; Editing by Jon Boyle)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.