Eurozone | Lending in the eurozone remained stable in July

Eurozone lending broadly continued its trend from the recent months in July. The M3 monetary aggregate annual growth rate picked up by 1 percentage point to 10.2% y/y, but the acceleration was mainly caused by a weak July last year.

What you will learn:

  • Lending in the eurozone remained robust in July, with the M3 monetary aggregate picking up by 1pp to 10.2% annual growth.
  • French business confidence further improved in August, although at 93 remains below its long-term average.
  • Italian industrial sales and new orders climbed up further in June at 13.4% m/m and 23.4% m/m respectively, but the pace of recovery has softened sharply relative to May, after the initial post-lockdown bounce back at work.

Topics: Manufacturing, Europe, Eurozone, Coronavirus

Lending in the eurozone remained stable in July - iPad