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Eurozone Jan. M3 Growth Exceeds Forecast

Eurozone's broad monetary aggregate M3 grew 2.5 percent year-on-year in January, data published by the European Central Bank showed Monday. The increase exceeded December's 1.5 percent rise and 1.8 percent rise forecast by economists.

The three-month average of the annual growth rates of M3 in the period from November to January came in at 2 percent, unchanged from the previous period.

The annual growth rate of credit extended to the private sector increased to 0.7 percent in January from 0.4 percent in the previous month. At the same time, the growth rate of loans to households decreased to 1.3 percent from 1.5 percent in December.

by RTT Staff Writer

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