Eurozone M3 Growth Improves; Credit To Private Sector Rises At Steady Pace

Eurozone money supply increased at a faster pace in January and credit to private sector rose at a steady pace, data from the European Central Bank showed Thursday.

The broad monetary aggregate M3 grew at a faster pace of 5.2 percent on a yearly basis after expanding by revised 4.9 percent in December.

At the same time, the narrow measure, M1 growth eased slightly to 7.9 percent from 8 percent in December.

Data showed that credit to euro area residents logged a steady growth of 2 percent in January. Credit to the private sector also registered a stable expansion of 3.4 percent.

The annual growth rate of adjusted loans to the private sector increased to 3.8 percent from 3.7 percent in December. Adjusted loans to households climbed 3.7 percent, while that to non-financial corporations gained 3.2 percent.

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