Eurozone broad money growth edged higher in August, while lending to households and businesses remained resilient despite tighter financing conditions, according to ING economist Peter Vanden Houte. Eurozone broad money supply (M3) grew 3.5% year-on-year in August, up from 3.4% in July, although growth remains below the historical average of 5.2% recorded since the euro was introduced in 1999. Claims on the private sector increased 3.6% year-on-year, compared with 3.4% in July. Household loan growth remained unchanged at 3.1%, while loans to non-financial corporations grew 4.2%, easing slightly from 4.4% in July but remaining above June's 4%.
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