Investing.com - The euro zone's M3 money supply grew less-than-expected in October, while private loans declined for the 18th consecutive month, official data showed on Thursday.
In a report, the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 1.4% in October, below expectations for a 1.9% increase.
M3 money supply in the euro zone rose 2% in the preceding month.
Loans to private sector declined at a pace of 2.1% annually last month, compared to expectations for a 1.8% drop, after falling 2% in September.
Following the release of the data, the euro added to gains against the U.S. dollar, with EUR/USD rising 0.27% to trade at 1.3614, compared to 1.3607 ahead of the data.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.25%, France’s CAC 40 advanced 0.15%, Germany's DAX tacked on 0.25%, while London’s FTSE 100 inched up 0.1%.
In a report, the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 1.4% in October, below expectations for a 1.9% increase.
M3 money supply in the euro zone rose 2% in the preceding month.
Loans to private sector declined at a pace of 2.1% annually last month, compared to expectations for a 1.8% drop, after falling 2% in September.
Following the release of the data, the euro added to gains against the U.S. dollar, with EUR/USD rising 0.27% to trade at 1.3614, compared to 1.3607 ahead of the data.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.25%, France’s CAC 40 advanced 0.15%, Germany's DAX tacked on 0.25%, while London’s FTSE 100 inched up 0.1%.