Credit Growth Remains Buoyant in the Euro Area

Summary:
Financial conditions remain supportive and are not expected to tighten much in the coming months. Lending to non-financial corporations in the euro grew by an annual 4.2% in August, its fastest rate since April 2009. Forward-looking indicators suggest that euro area credit growth should remain strong over the coming months. Overall, domestic demand is likely to continue to be the main driver of growth in the euro area, helping to mitigate external weakness. Strong job growth combined with rising wages should continue to underpin household spending while accommodative financing conditions should further support investment. All in all, the European Central Bank’s M3 and credit report for August confirms that lending

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Nadia Gharbi considers the following as important: 2) Swiss and European Macro, euro area, euro area bank loans, euro area credit growth, Featured, Macroview, newsletter, Pictet Macro Analysis

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