# Euro zone credit growth remains brisk despite gloomy outlook
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-11-28
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Euro zone companies maintain borrowing binge despite rising
Meta Description: Lending to businesses in the 19-country euro area remains strong despite rising rates and a looming recession. Household credit growth slows.
URL: https://financedigest.com/euro-zone-credit-growth-remains-brisk-despite-gloomy-outlookhtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-11-28t091701z1lynxmpeiar0agrtroptp4global-forex-1736814805156-compressed.jpg)

FRANKFURT (Reuters) – Bank lending to euro zone companies held steady, maintaining the sector’s biggest borrowing binge in over a decade, despite rising interest rates and a looming recession, European Central Bank data showed on Monday.

Lending to businesses in the 19-country euro area expanded by 8.9% in October, unchanged on September when it rose to its highest rate since early 2009, fresh data showed. Household credit growth meanwhile slowed to 4.2% from 4.4%.

The monthly flow of loans to companies, however, slowed sharply, to 24.0 billion [euros](https://www.financedigest.com/eu-seeks-clarification-on-italy-post-covid-plan-freezes-19-billion-euros.html "EU seeks clarification on Italy post-COVID plan, freezes 19 billion euros") from 36.6 billion a month earlier with the flow of short term loans coming to a standstill.

Growth in the M3 measure of money circulating in the [euro zone](https://www.financedigest.com/euro-zone-consumers-more-optimistic-on-inflation-ecb-survey-shows.html "Euro zone consumers more optimistic on inflation, ECB survey shows"), meanwhile slowed to 5.1% from 6.3%, coming well under expectations for 6.2% in a Reuters survey.

(Reporting by Balazs Koranyi; Editing by Toby Chopra)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---