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By Hans Bentzien
FRANKFURT (Dow Jones) The growth of book lending to non-financial companies in the euro area slowed in October. According to the European Central Bank (ECB), lending increased at an annual rate of 6.8 (September: 7.1) percent. The volume of loans extended to private households grew at an unchanged annual rate of 3.1 percent, with house purchase loans also increasing unchanged by 4.5 percent and consumer loans, as in the previous month, 0.1 percent below the level of the previous month lay.
Total lending in the euro area rose at an annual rate of 8.8 (8.4) percent, with growth in lending to private individuals being 4.9 (4.9) percent, while loans to the state rose at an annual rate of 20 .3 (18.9) percent rose.
The money stock M3, the most important balance sheet counterpart of which is loans, increased in October at an annual rate of 10.5 (10.4) percent. The economists polled by Dow Jones Newswires had calculated a rate of 10.6 percent. The three-month rate was 10.1 (10.0) percent, which was in line with the forecast. The growth of the tighter money supply M1 stagnated at 13.8 percent.
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DJG / hab / apo
END) Dow Jones Newswires
November 26, 2020 04:10 AND ( 09:10 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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