Tin tức thị trường
27.06.2024

Eurozone M3 money supply grew more than forecast in May

According to the report from the European Central Bank (ECB), in May, the M3 monetary aggregate rose by 1.6% per year, accelerating compared to April (+1.3%), and exceeding economists' forecasts (+1.5%). It was the sixth increase in a row and the strongest growth since April 2023.

Meanwhile, the narrower M1 aggregate, which includes money in circulation and overnight deposits, fell by 4.9% per annum, slowing compared to April (-5.9%). The annual growth rate of short-term deposits other than overnight deposits (M2-M1) decreased to 14.7% from 15.6% in April. The annual growth rate of marketable instruments (M3-M2) decreased to 17.5% from 22.6% in April.

Looking at the components' contributions to the annual growth rate of M3, the M1 contributed -3.3% (compared to -4.0% in April), short-term deposits other than overnight deposits (M2-M1) contributed 4.0% (compared to 4.1% in April) and marketable instruments (M3-M2) contributed 1.0% (compared to 1.2% in April).

The data also showed that the private loans rose by 0.3% per year, as expected, after an increase of 0.2% in April (the weakest growth since March 2015). Overall credit growth to the private sector, which includes both households and non-financial corporations, slowed to 0.8% from 0.9% in April. Lending to companies grew by 0.3% per year after a similar increase in April.

Xem thêm