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The growth of corporate credit slows down sharply

Growth in business loans fell from 8.9% in October to 8.4% in November.

There was a slight slowdown in loans to households, to 4.1%, after 4.2% in the previous month.

There was also a sharp decline in the monthly flow of loans to businesses which stood at -1 billion euros, against the 24 billion euros in October.

The annual growth rate of the M3 money supply, which reflects liquidity circulating in the euro zone economy, slowed to 4.8% from 5.1%, a figure lower than market expectations as the Reuters consensus gave at 5%.

(Balazs Koranyi; French version Lina Golovnya)

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