Economic news

Euro zone bank lending growth picks up in Aug

2024.09.26 05:19

FRANKFURT (Reuters) – Bank lending to the euro zone economy expanded slightly in August, continuing a slow rebound since the start of the year possibly boosted by the prospect of steady European Central Bank rate cuts in the months ahead, ECB data showed on Thursday.

© Reuters. FILE PHOTO: EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany July 18, 2024. REUTERS/Jana Rodenbusch/File Photo

Bank credit to companies grew by 0.8% in August after a 0.6% increase in July while credit to households expanded by 0.6% after 0.5% in the previous month, with both figure trending up nearly all year.

The measure of money circulating in the euro area, which often leads economic activity, meanwhile expanded by 2.9% in August, beating expectations for 2.6% in a Reuters poll of economists.



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