| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

Follow Finfacts on Twitter

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : EU Economy Last Updated: Apr 30, 2011 - 6:54 AM


Eurozone M3 money supply growth grew slightly in March and lending to the private sector fell
By Finfacts Team
Apr 29, 2011 - 11:40 AM

Email this article
 Printer friendly page

Eurozone M3 money supply growth grew slightly in March and lending to the private sector fell according to data from the European Central Bank on Friday.

M3 is a measure of broad money supply and credit in the Eurozone economy and the annual target growth rate of the ECB is 4.5%.

M3 was 2.3% in March up from 2.1% in February. The three month average of the annual growth rates of M3 over the period January 2011 - March 2011 increased to 2.0%, from 1.8% in the period December 2010 - February 2011.

The ECB said in respect of the components of M3,  the annual growth rate of M1, which is mainly cash, stood at 3.0% in March 2011, compared with 2.9% in February. The annual growth rate of short-term deposits other than overnight deposits increased to 2.2% in March, from 1.8% in the previous month. The annual growth rate of marketable instruments stood at -0.2% in March, compared with -0.3% in February.

The central bank said the annual growth rate of total credit granted to Eurozone residents fell to 3.2% in March 2011, from 3.8% in the previous month. The annual growth rate of credit extended to general government dipped to 7.7% in March, from 10.5% in February, while the annual growth rate of credit extended to the private sector stood at 2.2% in March, compared with 2.3% in the previous month.

The annual growth rate of loans to the private sector stood at 2.5% in March, compared with 2.6% in the previous month (adjusted for loan sales and securitisation the annual growth rate of loans to the private sector decreased to 2.8%, from 3.0% in the previous month). The annual growth rate of loans to non-financial corporations increased to 0.8% in March, from 0.6% in February. The annual growth rate of loans to households increased to 3.4% in March, from 3.0% in the previous month.

The annual growth rate of lending for house purchase increased to 4.4% in March, from 3.8% in the previous month; the annual growth rate of consumer credit was more negative at -0.9% in March, from -0.7% in February, while the annual growth rate of other lending to households decreased to 2.1% in March, from 2.6% in the previous month.

Finally, the annual growth rate of loans to non-monetary financial intermediaries (except insurance corporations and pension funds) decreased to 5.7% in March, from 8.7% in the previous month.

Related Articles
Related Articles


© Copyright 2011 by Finfacts.com

Top of Page

EU Economy
Latest Headlines
Spain's strong recovery to slow in the next few years
Italy's Mezzogiorno is Achilles' heel of Euro Area - lowest birth rate since 1862
Euro Area GDP grows at weak 0.3% in Q2 2015
German GDP up 0.4% in Q2 2015; France's GDP stagnates
Germany's Surplus: Lots of critics; Credible solutions scarce
Euro Area industrial production dips in June and May after a flat April
Greece faces two years of recession according to EU officials
High EU youth unemployment rate not as bad as it seems
Eurozone retail PMI surges to highest since January 2011
ECB monetary policy still tight for Southern Europe
German exports fell in June — surplus at record; Exports up 13.7% year-on-year
Eurozone manufacturing sector continued to expand in July
Weak euro unlikely to have significant impact on Euro Area growth
Is Euro Area Ireland's top trading partner?: EU28 is overwhelmingly UK's
German car firms boost exports from Spain, UK, Portugal, Czech Republic, Slovakia, Hungary and Romania
Flash Eurozone manufacturing/ services PMI close to four-year high despite Greek crisis
Krugman calls euro a Roach Motel; Hotel California gets 1-star grade
Greece & Euro Crisis: July 2015 articles from Finfacts
Greece and other poor countries in Euro Area will not become rich
Euro Area manufacturing/ services PMI hits four-year high in June
Western European car market: Recovery continues
Greece could become a failed state like Venezuela
Multinational companies pay on average 30% less tax than domestic competitors in EU
EU's list of 30 tax havens omits the biggest 4 in Europe
China to invest in Juncker's European investment fund
Greek talks collapse; Game theorists gambling with future — Germany's vice-chancellor
German exports and industrial production in strong rises in April
Tackling Inequality: Scandinavian countries have the most successful welfare systems in Europe
Eurozone unemployment fell by 130,000 in April 2015 — down 849,000 in 12 months
Eurozone service sector business activity slowed during May
German 2015 GDP forecast cut; Jobless level at 24-year low
Eurozone manufacturing in modest acceleration in May
FDI into Europe at record in 2014; UK on top: Germany location for future investment
Eurozone economy loses growth momentum; Jobs growth rises
Athens leak suggests Juncker has plan for Greece
Draghi will not end QE early but warns of risks
Eurozone grows faster than US and UK in Q1 2015
German GDP at slower pace, France faster in Q1 2015
Germany may cut income tax; Germans still shun risky investments
Germany had record exports and imports in March 2015