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Euro zone business lending growth slows sharply in November

Euro zone business lending growth slows sharply in November
© Reuters. FILE PHOTO: A general view shows the business district of La Defense and the roofs of Paris 16th district, in Paris, France, November 28, 2022. REUTERS/Christian Hartmann

FRANKFURT (Reuters) – Bank lending to euro zone companies slowed in November, easing back from the sector’s biggest borrowing binge in over a decade as rising interest rates and a looming recession appear to be taking a toll, European Central Bank data showed on Thursday.

Lending to businesses in the 19-country euro area expanded by 8.4% in November after an 8.9% reading a month earlier while household credit growth slowed to 4.1% from 4.2%.

The monthly flow of loans to companies was also sharply lower at minus 1 billion euros after a 24 billion euro reading a month earlier.

Growth in the M3 measure of money circulating in the euro zone meanwhile slowed to 4.8% from 5.1%, coming below expectations for 5.0% in a Reuters survey.

Source: Investing.com

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