Lending to households accelerated in January, while lending growth to firms was flat versus December, data from the European Central Bank revealed on Monday.
Lending to households grew by 2.2% in January versus one year earlier, compared with an annual rise of 2.0% in December. Loans to companies increased by 2.3% in January, the same pace as in December, the ECB said.
The M3, the ECB’s indicator of broad money supply, grew 4.9% in January on the year, compared with 5.0% in December. Economists polled by The Wall Street Journal expected a 4.8% increase.