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ECB

Euro zone corporate lending growth plunges in Sept

epa07419964 (FILE) - The European Central Bank (ECB) in Frankfurt Main, Germany, 27 April 2017 (reissued 07 March 2019). The European Central Bank on 07 March 2019 indicated it would not raise the eurozone interest rates until in 2020, while announcing new stimulus measures to boost the single currency area economic growth. ECB President Mario Draghi said the eurozone is 'in a period of continued weakness and pervasive uncertainty. The near-term growth outlook will be weaker than previously anticipated'. EPA-EFE/ARMANDO BABANI

Bank lending to euro zone companies plunged last month, suggesting that the bloc’s economic slowdown is finally slowing lending after a period of surprising resilience, data from the European Central Bank showed on Monday.

Corporate loan growth slowed to 3.7% in September from 4.3% a month earlier, its slowest rate since January. Household lending growth meanwhile held steady at 3.4%.

The annual growth rate of the M3 measure of money supply, which often serves as an indicator of future activity, slowed to 5.5% in September from 5.8% in August, underperforming expectations for 5.7%.

Via Reuters

Topics BankingECB

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