Eurozone M3 Growth Slows In July

Annual growth in the euro area money supply and lending to the private sector slowed in July, figures from the European Central Bank showed Thursday.

The annual growth rate of the broad monetary aggregate M3 fell to 7.6 percent from 8.3 percent in June. The average for the three months to July was 8.1 percent.

The narrower aggregate M1 grew 11.0 percent year-on-year after an 11.8 percent increase in June.

The annual growth rate of credit to the private sector decreased to 3.4 percent in July from 3.6 percent in June.

The annual growth rate of adjusted loans to the private sector was 3.0 percent in July, unchanged from the previous month.

Loans to households grew 4.2 percent year-on-year in July versus 4.0 percent in June. The annual growth rate of adjusted loans to non-financial corporations stood at 1.7 percent in July, compared with 1.8 percent in June.

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