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
