Eurozone M3 money supply grew at a faster-than-expected pace in November, data from the European Central Bank revealed Tuesday.
The annual growth in M3 money supply climbed to 3.1 percent from 2.5 percent in October. Economists had expected a modest increase in the rate to 2.6 percent.
The three-month average growth in M3 accelerated to 2.7 percent from 2.3 percent. That also exceeded economists' prediction for 2.5 percent increase.
Lending to the private sector continued to decline, down 0.9 percent annually in November following 1.1 percent slump in the previous month.
Meanwhile, deposits placed by households grew 2.4 percent year-on-year after a 2.1 percent rise in October.
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