Daily Management Review

Eurozone lending in September grows at the slowest pace since 2015


September saw the lowest growth in consumer loans in the eurozone since June 2015.

The European Central Bank reports that the amount of consumer loans provided last month rose by 0.8% on an annual basis. August saw a 1% increase, although traders surveyed by Trading Economics generally anticipated that August's rate would not change.

Lending by Eurozone banks to non-financial businesses increased by just 0.2% in September, the lowest rate since September 2015. The indicator grew by 0.6% in August.

ECB officials observe that there is still a limited demand for loans due to high interest rates and worries about the eurozone economy.

September saw a 1.2% annual decline in the eurozone's aggregate money supply (M3), which stands at €16.02 trillion. Experts had predicted a 1.7% drop. The indicator decreased by 1.3% in August.

source: marketwatch.com