ECB says eurozone economy stays weak
Source: Agencies |
May 31, 2012, Thursday
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Print Edition
Print Edition
CREDIT and money data from the European Central Bank show the eurozone economy remains weak.
The numbers released yesterday show that the 1 trillion euros (US$1.25 trillion) in emergency loans from the ECB to commercial banks are not reaching consumers and businesses in the form of loans.
The annual growth in lending by banks to the private sector slipped to 0.3 percent in April from 0.6 percent in March. Meanwhile, the supply of money in the economy grew by only 2.5 percent in April, down from 3.2 percent in March.
Growth in the money supply and more borrowing and more credit would be signs of a recovery.
The numbers released yesterday show that the 1 trillion euros (US$1.25 trillion) in emergency loans from the ECB to commercial banks are not reaching consumers and businesses in the form of loans.
The annual growth in lending by banks to the private sector slipped to 0.3 percent in April from 0.6 percent in March. Meanwhile, the supply of money in the economy grew by only 2.5 percent in April, down from 3.2 percent in March.
Growth in the money supply and more borrowing and more credit would be signs of a recovery.
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