Eurozone Household Credit Growth Accelerates

(RTTNews) - Eurozone household credit growth reached the fastest in more than two years in July, data from the European Central Bank showed on Thursday.

Adjusted loans to the private sector softened to 2.8 percent from 3.0 percent in the previous month.

Among the borrowing sectors, loans to households registered a faster growth of 2.4 percent, following a 2.2 percent rise in June. The increase was the strongest since April 2023.

Similarly, annual growth in lending to companies rose to 2.8 percent from 2.7 percent in June. This was the biggest expansion since June 2023, when the increase was 3.1 percent.

The broad monetary aggregate M3 increased 3.4 percent in July compared to 3.3 percent in June.

Likewise, growth in the narrow measure M1 accelerated to 5.0 percent from 4.7 percent a month ago, data showed.