Lending to companies accelerated somewhat in September

DJ ECB: Corporate lending accelerated slightly in September

By Hans Bentzien

FRANKFURT (Dow Jones) — Growth in euro area corporate lending accelerated slightly in September. According to information from the European Central Bank (ECB), lending to non-financial companies rose at an annual rate of 8.9 (August: 8.8) percent. The volume of loans extended to private households grew by 4.4 (4.5) percent, including loans for home purchases by 5.1 (5.2) percent and consumer loans by 3.8 (3.4) percent. Percent.

Total credit in the euro area increased at an annual rate of 5.5 (5.6) percent, with credit to private increasing by 5.7 (5.6) percent and credit to the state by 5.0 (5.5 ) percent.

M3, the main balance sheet counterpart of which is credit, rose at an annual rate of 6.3 (6.1) percent in September, while economists polled by Dow Jones Newswires had forecast an unchanged rate of 6.1 percent. The three-month rate was 6.0 percent. The growth of the narrow money supply M1 fell to 5.6 (6.8) percent.

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DJG/hab/cbr

(END) Dow Jones Newswires

October 26, 2022 4:10 AM ET (08:10 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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