August 28, 2017 / 8:21 AM / a year ago

Euro zone lending robust but money supply growth slows - ECB data

FRANKFURT (Reuters) - Growth in the amount of money circulating in the euro zone, an indicator which often predicts future economic activity, slowed sharply in July, even as bank lending remained increased, European Central Bank data showed on Monday.

The skyline with its banking district is pictured in Frankfurt early evening April 13, 2015. REUTERS/Kai Pfaffenbach

The annual growth rate of the M3 measure of money supply in the 19-country euro zone, fell to 4.5 percent from 5 percent a month ago, the slowest pace since last October and well short of market expectations for 4.9 percent.

Growth in corporate lending meanwhile jumped to 2.4 percent from 2.0 percent, reversing most of its slowdown in June, when one off factors dragged down growth.

Lending growth to households held steady at 2.6 percent for the third straight month, matching its best rate since March 2009.

Reporting by Balazs Koranyi; Editing by Francesco Canepa

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