Eurozone lending to the private sector increases in October

(RTTNews) – Euro zone lending to the private sector grew at a healthy pace in October, according to data released Thursday by the European Central Bank.

Adjusted loans to the private sector increased 1.6% year-on-year in October, unchanged from the previous month.

Among borrowing sectors, annual growth in household loans rose at a slightly faster pace, 0.8% after a 0.7% gain. Likewise, loans to non-financial corporations rose 1.2 percent, slightly faster than the 1.1 percent rise a month ago.

The data showed that claims on the private sector recorded a steady increase of 1.2 percent in October.

The monetary aggregate M3 recorded annual growth of 3.4% in October, in line with expectations, compared to 3.2% in September.

At the same time, the narrow measure M1 rose 0.2 percent, in contrast to the 1.3 percent decline in September. This was the first expansion since December 2022.