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Economic Buzz: Eurozone bank lending to households rise most in 10 months

26-Sep-24 16:08 Hrs IST

Bank lending to households in the euro area logged its fastest growth in ten months in August, however, the pace of growth was weak, data published by the European Central Bank revealed Thursday.

Lending to households moved up 0.6 percent from a year ago, following a 0.5 percent rise in July. Lending marked the biggest increase since October 2023.

Likewise, adjusted loans to businesses climbed at a faster pace of 0.8 percent after July's 0.6 percent increase. This was the strongest since July 2023.

The annual growth rate of adjusted loans to the private sector increased to 1.6 percent from 1.3 percent in July.

Further, annual growth in M3, the broad monetary aggregates, improved to 2.9 percent in August from 2.3 percent a month ago. At the same time, M1, the narrow measure continued to fall, down 2.1 percent, following July's 3.1 percent decrease.

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