Published: 2024-03-28 15:06
Photo of Judita Grigelytė (VŽ).
Bank lending to households in the euro area increased by 0.3% in February, compared to the same month a year earlier, to 6.87 trillion. EUR, according to data published by the European Central Bank (ECB) on Thursday.
Lending volume was almost unchanged during the month, and annual growth remained the most modest since 2015. March.
The result reflects a significant slowdown in the eurozone economy, depressed consumption by the ECB’s unprecedented tightening of monetary policy in the past, Trading Economics notes.
According to the data of the regulator, the annual growth of business lending picked up from 0.2% in January to 0.4% in February, the volume last month reached 5.13 trillion. Eur.
The overall credit growth of the private non-financial sector expanded from 0.4% in the first month of this year to 0.7% in the second.
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