2017.05.2904:25:00UTC+00Eurozone M3 Growth Slows In April

Eurozone money supply and credit to private sector grew at slower pace in April, the European Central Bank reported Monday.

The broad monetary aggregate M3 climbed 4.9 percent annually, slower than the 5.3 percent increase in March. The annual rate was forecast to moderate to 5.2 percent.

Meanwhile, annual growth of M1 which includes currency in circulation and overnight deposits, improved slightly to 9.2 percent from 9.1 percent in the previous month.

Data showed that total credit to euro area residents grew at slower pace of 4.6 percent after rising 4.9 percent in March.

Credit to the private sector climbed 2.9 percent but weaker than March's 3.1 percent increase. Loans to households grew at a steady pace of 2.4 percent in April.

At the same time, growth in loans to non-financial corporations rose slightly to 2.4 percent from 2.3 percent.