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Euro zone M3 money supply grows 3.8% in November

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Investing.com - The euro zone's M3 money supply grew in line with expectations in November, while private loans fell more-than-expected, official data showed on Thursday.

In a report, the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 3.8% in November, in line with expectations.

M3 money supply in the euro zone rose 3.9% in the preceding month.

Loans to private sector declined at a pace of 0.8% annually last month, compared to expectations for a 0.5% drop after falling 0.7% in October.

Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.2% to trade at 1.3162.

Meanwhile, European stock markets held on to mild losses. The EURO STOXX 50 fell 0.45%, France's CAC 40 declined 0.45%, Germany's DAX dipped 0.2%, while London's FTSE 100 eased down 0.1%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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