Growth in lending to eurozone businesses slows: ECB

Frankfurt am Main

The pace of growth in lending to businesses in the eurozone slowed in December, European Central Bank data showed Friday, in a mild setback for the Frankfurt institution. Credit to businesses grew by 2.9 percent year-on-year last month, adjusting for some purely financial transactions, a drop of 0.2 percentage points compared with the figure for November. Meanwhile, lending growth to households held steady in December, at 2.8 percent. Overall, lending to the private sector expanded by 2.8 percent last month, down from 2.9 percent in November. Credit growth is a key indicator for the ECB of how its easy-money policy is affecting the real economy.—APP

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