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Private-sector loan growth slows in April in euro zone
May 30, 2012 / 8:08 AM / 5 years ago

Private-sector loan growth slows in April in euro zone

FRANKFURT, May 30 (Reuters) - Loans to euro zone households and firms grew more slowly than expected in April, while banks upped lending to businesses, European Central Bank data showed on Wednesday.

Loans to the private sector rose 0.3 percent in April from the same month a year ago, compared with a Reuters poll forecast for 0.6 percent.

The monthly flow of loans to households was 6 billion euros in the positive matching last month’s rise. The flow of loans to non-financial firms jumped to 10 billion euros after falling by 7 billion euros in March.

Euro zone M3 money supply - a more general measure of cash in the economy - grew at an annual pace of 2.5 percent in April, slowing from 3.1 percent in March and well below the consensus expectation of 3.4 percent growth of analysts polled by Reuters.

Reporting by Sakari Suoninen

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