World Economy

Lending Growth

Lending GrowthLending Growth

Lending to eurozone households and corporations picked up slightly in August but a broader measure of money circulating in the eurozone dropped, European Central Bank data showed on Friday, Reuters reported. Lending growth to households incresed to 1% in August from 0.9% a month earlier while lending growth to non-financial corporations rose to 0.4% in August from 0.3% in July, the ECB said. Sparse lending to companies had dogged the struggling eurozone economy although the picture has been improving since late 2014 and policy setters said the bloc is recovering, albeit slowly. Although more recent figures indicated a solid pick up in lending, the ECB earlier this month said it revised its lending data down based on a new methodology. Indeed, July household lending growth was originally reported at 1.9% before a cut back to 0.95 while non-financial corporate lending was originally seen growing at 0.9% before a cut to 0.3%.