Growth in the lending to households in the euro area slowed in November, while loans to the non-financial institutions were unchanged, preliminary data from the European Central Bank showed Tuesday.
Loans to households grew 0.5 percent year-on-year after a 0.6 percent increase in October. Economists had forecast the rate of growth to improve to 0.8 percent.
Lending to non-financial corporations was unchanged from a year ago after a 0.3 percent decline in the previous month, the ECB data showed. The annual growth rate of loans to the private sector, which is adjusted for loan sales, securitization and notional cash pooling, was 0.4 percent in November, unchanged from the previous month. The broad monetary aggregate M3 fell 0.9 percent year-on-year in November following a 1.0 percent decline in October. Economists had expected a repeat of the 1.0 percent decrease.
