Eurozone: Annual M3 growth increased to 3.9% in October - ING

Sandeep Kanihama FXStreet Contributor

Peter Vanden Houte, a chief economist at ING, notes that the annual M3 growth in the eurozone increased to 3.9% in October from 3.6% in September.

Key Quotes

“Adjusted loans to households expanded by 3.2% in October, unchanged from the previous month, while the growth pace of loans to non-financial corporations slowed to 3.9% in October from 4.3% in September. Credit growth seems to be at cruising speed, but nothing more than that.”

“The annual growth rate of the narrower aggregate M1, stood at 6.8% in October, unchanged from the previous month. Real M1 growth, a good leading indicator of economic activity, has now been on a downward path since July 2015. This is compatible with a further slowdown in growth momentum in 2019.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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