Lending to eurozone firms increased at a faster pace in September than in August, data from the European Central Bank showed Thursday. The numbers come just hours before the central bank is expected to announce a reduction in its bond-purchase program, which economists say has helped revive the eurozone outlook and increase inflation.
The data showed that lending to firms grew by 2.5% on year up from 2.4% in August, while lending to households increased by 2.7%, matching the previous month.
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The numbers combined with a survey published earlier in the week suggest steady growth momentum in the 19-country eurozone following years of crisis and recession earlier in the decade.
Growth in the central bank's key money-supply indicator, M3, came in at 5.1% in September compared with 5.0% in August. Forecasters surveyed by The Wall Street Journal last week forecast 5.0% growth.
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(END) Dow Jones Newswires
October 26, 2017 04:31 ET (08:31 GMT)