FRANKFURT – Lending to euro zone companies dipped into destructive territory for the primary time since 2015, knowledge from the European Central Financial institution confirmed on Tuesday, because the bloc was probably in recession and going through a protracted restoration.
Financial institution lending to companies shrunk by 0.3 p.c in October after a 0.2- p.c enlargement a month earlier whereas lending progress to households slowed to 0.6 p.c from 0.8 p.c, the ECB stated.
The M3 measure of cash provide, seen up to now as an excellent indicator of future financial enlargement, in the meantime picked as much as minus 1 p.c from minus 1.2 p.c, not removed from expectations for a 0.9- p.c contraction.
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