July 27, 2020 / 8:23 AM / 17 days ago

Euro zone companies tapped bank credit in June even as economy reopened

FILE PHOTO: The skyline with its financial district is photographed during sunset in Frankfurt, Germany, April 22, 2020, as the spread of the coronavirus disease (COVID-19) continues. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - Euro zone companies continued to tap bank credit at a brisk pace in June even as the economy reopened after three months of coronavirus-related lockdown, data from the European Central Bank showed on Monday.

Lending to non-financial corporations in the euro zone grew 7.1% year on year last month, only a slight deceleration from the 7.3% recorded in May, which was the biggest increase since early 2009.

Household lending growth, meanwhile, held steady at 3.0% for a third consecutive month.

Reporting By Francesco Canepa; Editing by Hugh Lawson

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