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Euro zone: money supply grows weaker

FRANKFURT (dpa-AFX) – The money supply in the euro zone grew weaker in September. The broad money supply M3 increased by 7.4 percent compared to the same month last year, as the European Central Bank (ECB) announced in Frankfurt on Wednesday. In the previous month, the money supply had grown by 7.9 percent. Analysts had expected an average of 7.5 percent for September.

The growth of the more narrowly defined money supply M1 remained unchanged at 11.0 percent. The growth in lending by commercial banks to households fell by 0.1 points to 4.1 percent. Growth in corporate lending rose from 1.5 percent in August to 2.1 percent in September./bgf/jsl/stk

Reference-www.finanzen.at

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