FRANKFURT (Reuters) – Lending to euro zone companies and households continued to accelerate last month, supporting arguments by some that the bloc’s economy has bottomed out and a “soft landing” is underway, the European Central Bank said. The figures showed on Thursday.
Growth in lending to businesses rose to 1.2% in October from 1.1% in September and was at its best level since mid-2023. Meanwhile, growth in lending to households edged up to 0.8% from 0.7% a month earlier.
The M3 measure of money supply, sometimes an indicator of future economic growth, expanded 3.4%, a level last peaked in December 2022, and in line with expectations in a Reuters poll.
