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2012.01.2705:16:00UTC+00Eurozone M3 Growth Slows Unexpectedly In December

Eurozone money supply growth eased unexpectedly in December, the European Central Bank said Friday.

The broad monetary aggregate M3 growth decreased to 1.6 percent in December from 2 percent in November. Economists were forecasting the indicator to rise to 2.1 percent.

The three-month average of the annual growth rates of M3 in the period from October to December dropped to 2.1 percent, from 2.5 percent in the period from September to November.

Regarding the main components of M3, the annual growth rate of M1 slowed to 1.6 percent from 2.1 percent in November. Loans to private sector grew only 1 percent in December after rising 1.7 percent in November.

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