FRANKFURT – Bank lending to private companies in the eurozone accelerated in October, according to a report Tuesday from the European Central Bank, suggesting the region's economic recovery continues to strengthen.
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Private-sector lending to non-financial firms was up 2.9% on an annual basis, the ECB said in its monthly report, compared to a 2.4% reading in September. Lending to eurozone households rose by 2.7% in the year to October, unchanged from the previous month.
The broadest measure of money supply, M3, rose 5% on an annual basis last month, the ECB said, down slightly from September's 5.2% rise.
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(END) Dow Jones Newswires
November 28, 2017 04:33 ET (09:33 GMT)