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Economy And The Numbers

Eurozone M3 Money Supply Growth Improves In March

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Eurozone money supply growth improved slightly in March, while annual growth in credit to private sector slowed marginally, the European Central Bank reported Wednesday.

The broad monetary aggregate M3 climbed 5 percent year-on-year in March, slightly faster than the revised 4.9 percent expansion seen in February.

Economists had forecast M3 growth to remain at February's originally estimated growth of 5 percent. The growth averaged 5 percent in the three months up to March.

The annual growth in narrower aggregate M1, which includes currency in circulation and overnight deposits, came in at 10.1 percent in March, after 10.2 percent in February.

Total credit to the private sector advanced 1.1 percent compared to 1.2 percent in February.

Loans to households grew 1.6 percent in March, unchanged from the previous period. At the same time, growth in loans to non-financial corporations improved to 1.1 percent from 1 percent in February.

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