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Euro zone business lending growth slows sharply in November

By January 3, 2023No Comments

Bank lending to euro zone companies slowed in November, easing back from the sector’s biggest borrowing binge in over a decade as rising interest rates and a looming recession appear to be taking a toll, European Central Bank data showed today.

Lending to businesses in the 19-country euro area expanded by 8.4% in November after an 8.9% reading a month earlier while household credit growth slowed to 4.1% from 4.2%.

The monthly flow of loans to companies was also sharply lower at -€1 billion after a €24 billion reading a month earlier.

Growth in the M3 measure of money circulating in the euro zone meanwhile slowed to 4.8% from 5.1%, coming below expectations for 5% in a Reuters survey.

Article Source: Euro zone business lending growth slows sharply in November – RTE

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