Investing.com - The euro zone's M3 money supply grew less-than-expected in August, official data showed on Thursday.
In a report, the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 2.9% in August, below expectations for a 3.2% increase.
M3 money supply in the euro zone rose 3.6% in the preceding month.
Loans to private sector declined at a pace of 0.6% annually, defying expectations for a 0.1% increase after falling 0.4% in July.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.1% to trade at 1.2886.
Meanwhile, European stock markets held on to broad gains. The EURO STOXX 50 rose 0.6%, France’s CAC 40 climbed 0.65%, Germany's DAX advanced 0.5%, while London’s FTSE 100 eased up 0.25%.
In a report, the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 2.9% in August, below expectations for a 3.2% increase.
M3 money supply in the euro zone rose 3.6% in the preceding month.
Loans to private sector declined at a pace of 0.6% annually, defying expectations for a 0.1% increase after falling 0.4% in July.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.1% to trade at 1.2886.
Meanwhile, European stock markets held on to broad gains. The EURO STOXX 50 rose 0.6%, France’s CAC 40 climbed 0.65%, Germany's DAX advanced 0.5%, while London’s FTSE 100 eased up 0.25%.