The annual rate of growth of the Eurozone's money supply (M3) eased over the three months ended in December to 1.3 per cent from the 1.6 per cent pace seen over the three months to November, according to data released this morning by the European Central Bank (ECB).
The consensus estimate had been for a slowdown to 1.3%.
In year-on-year terms M3 slowed down to a 1.0% pace in December from the 1.5% clip seen in the month before.
Notably, the annual growth rate of credit extended to the private sector was more negative at -2.4% in December, having slipped from the -1.6% seen in November.
Lending to non-monetary financial intermediaries (excluding insurance corporations and pension funds) was more negative in December, at -12.2%, than the -9.2% seen in the previous month.
Source: Live Charts
The consensus estimate had been for a slowdown to 1.3%.
In year-on-year terms M3 slowed down to a 1.0% pace in December from the 1.5% clip seen in the month before.
Notably, the annual growth rate of credit extended to the private sector was more negative at -2.4% in December, having slipped from the -1.6% seen in November.
Lending to non-monetary financial intermediaries (excluding insurance corporations and pension funds) was more negative in December, at -12.2%, than the -9.2% seen in the previous month.
Source: Live Charts
