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Monday, May 29, 2017

EU Economy - Unchanged at 2.4% the annual growth rate of adjusted loans to households in April ..- ECB

Press Release 29 May 2017- Monetary developments in the euro area: April 2017


 • The annual growth rate of the broad monetary aggregate M3 decreased to 4.9% in April 2017, from 5.3% in March. • The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits, stood at 9.2% in April, compared with 9.1% in March. 

• The annual growth rate of adjusted loans to households stood at 2.4% in April, unchanged from the previous month. 
• The annual growth rate of adjusted loans to non-financial corporations stood at 2.4% in April, compared with 2.3% in March.


Components of the broad monetary aggregate M3

 The annual growth rate of the broad monetary aggregate M3 decreased to 4.9% in April 2017, from 5.3% in March, averaging 5.0% in the three months up to April. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate, including currency in circulation and overnight deposits (M1), stood at 9.2% in April, compared with 9.1% in March. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) was more negative at -2.8% in April, from -2.5% in March. The annual growth rate of marketable instruments (M3-M2) decreased to 1.5% in April, from 9.0% in March.

 Within M3, the annual growth rate of deposits placed by households stood at 5.3% in April, unchanged from the previous month, while the annual growth rate of deposits placed by non-financial corporations decreased to 7.1% in April, from 8.2% in March. Finally, the annual growth rate of deposits placed by non-monetary financial corporations (excluding insurance corporations and pension funds) decreased to 1.4% in April, from 1.6% in March.




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