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Macroeconomics  |  August 28, 2012 11:26:00

Growth in the euro area M3 money supply unexpectedly accelerated in July


Annual growth in M3 money supply in the euro area unexpectedly accelerated in July again. Broad monetary aggregate euro area increased year on year by 3.8%, compared with 3.2% in June, said the European Central Bank. Majority consensus expected a stable annual growth rate. The three-month average of the annual growth rates of M3 over the period May to July rose to 3.4% from 3.0% in the April-June 2012th Regarding the components of M3, the annual growth of M1 money supply increased from 3.5% to 4.5% with annual growth of money supply M2 from 3.0% to 3.5%.When it comes to credit and loans, the annual growth rate of total credit granted to euro area residents in July slowed to 1.2% from 1.4% in June. Annual growth in loans to government stagnated at 9.4%, but in the private sector fell by 0.6% after a 0.4% decrease in the previous month. Annual growth in loans to households remained third month unchanged at 0.3%. Housing loans, which are the most important component of household loans, grew year on year by 0.8%, the same pace as in June and May.



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July 27, 2017Eurozóna: Peněžní zásoba M3 vyšší Markéta Höfferová (Kurzy.cz)
June 29, 2012Growth of eurozone M3 money supply accelerated in May X-Trade Brokers (X-Trade Brokers )
May 30, 2012Growth of eurozone M3 money supply slowed in April X-Trade Brokers (X-Trade Brokers )

Růst peněžní zásoby M3 eurozóny v červenci nečekaně zrychlil

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