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Eurozone money supply growth accelerated in August, while credit to the private sector slowed further, data published by the European Central Bank showed on Monday.

The broad money supply M3 grew 7.9 percent year-on-year in August, following July’s 7.6 percent increase. M3 was forecast to advance 7.8 percent.

Likewise, growth in the narrow measure M1 increased to 11.1 percent from 11 percent a month ago.
As regards the dynamics of credit, data showed that credit to the private sector logged an annual growth of 3.1 percent, slower than the 3.4 percent increase in July.
Adjusted loans to the private sector also grew at a slower pace of 2.9 percent after climbing 3 percent in July.


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