Financial News: Eurozone Private Sector Credit Growth Remains Weak

Eurozone Private Sector Credit Growth Remains Weak

04/26/2024 - 06:49:00 (RTTNews)

(RTTNews) - Eurozone private sector credit continued to increase in March but the pace of recovery remained weak, data from the European Central Bank showed Friday.

Claims on the private sector gained 0.8 percent on a yearly basis, which was slightly faster than the 0.7 percent increase in February.

The adjusted loans to the private sector also grew 0.8 percent following February's 0.7 percent increase.

Among the borrowing sectors, annual growth in adjusted loans to households eased to 0.2 percent from 0.3 percent. By contrast, loans to non-financial corporations grew at a faster rate of 0.4 after a 0.3 percent rise.

Further, data showed that the broad monetary aggregate M3 advanced 0.9 percent in March, faster than the 0.4 percent rise in February. At the same time, the narrow measure, M1 posted an annual fall of 6.7 percent after a 7.8 percent decrease.

ING economist Bert Colijn said March data shows a subdued recovery in bank lending and money growth. With inflation expectations falling further, today's data is in line with a start to cautious rate cuts.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Brazil Services Growth Remains Strong In April (01 hr(s), 02 min(s), 31 sec(s) ago)
(RTTNews) - Brazil's service sector continued to expand at a solid pace in April amid sustaine ...Full Story»

Eurozone Private Sector Growth Accelerates In April (01 hr(s), 17 min(s), 31 sec(s) ago)
(RTTNews) - The euro area private sector growth accelerated to an 11-month high in April driven by ...Full Story»

Spain Unemployment Lowest Since 2008 (02 hr(s), 16 min(s), 31 sec(s) ago)
(RTTNews) - Spain's unemployment declined sharply in April to the lowest level since September ...Full Story»

South African Private Sector Logs Marginal Expansion (02 hr(s), 43 min(s), 31 sec(s) ago)
(RTTNews) - South Africa's private sector activity signalled a moderate expansion in April as ...Full Story»

Eurozone Sentix Investor Confidence Rises For 7 Straight Months (03 hr(s), 33 min(s), 31 sec(s) ago)
(RTTNews) - Eurozone investor confidence improved for the seventh straight month in May to hit the ...Full Story»

Eurozone Producer Prices Continue To Fall Sharply (03 hr(s), 46 min(s), 31 sec(s) ago)
(RTTNews) - Eurozone producer prices logged a further steep decline in March amid a continued down ...Full Story»

Hungary Trade Surplus Grows In March (05 hr(s), 43 min(s), 31 sec(s) ago)
(RTTNews) - Hungary's foreign trade surplus increased in March from a year ago, as imports fel ...Full Story»

Indonesia GDP Growth Exceeds Expectations (06 hr(s), 02 min(s), 31 sec(s) ago)
(RTTNews) - Indonesia's economy grew more than expected in the first quarter on robust governm ...Full Story»