28 November 2001, 12:41 Euro area/Oct M3 -- 2 (private sector credit up 6.8 pct yr-on-yr)
Credit to the private sector grew 6.8 pct year-on-year in October,
down from a growth rate of 7.0 pct in September.
Loans to the private sector, which account for the bulk of private
sector credit, grew 6.4 pct year-on-year, compared with a growth rate
of 6.7 pct the month before.
Credit to general government fell 0.9 pct year-on-year.
Total credit to euro area residents -- which consists of private
sector credit and credit to general government --- consequently grew
5.1 pct year-on-year in October.
The year-on-year rate of growth of currency in circulation and
overnight deposits (M1) rose to 5.3 pct in October from 5.1 pct in
September.
Growth in other short-term deposits (M2-M1) rose to 5.4 pct from
5.3 pct the month before.
The growth rate of marketable instruments (M3-M2) rose to 20.8 pct
in October from 18.5 pct in September.
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