Bank lending to euro zone companies slowed in November, reversing from the biggest surge in lending to the sector in more than a decade, as rising interest rates and a looming recession appear to be taking their toll, they showed. data from the European Central Bank.
Credit to companies in the 19 countries of the euro zone grew 8.4% in November, after 8.9% in the previous month; the growth of credit to households slowed from 4.2% to 4.1 percent.
The monthly flow of business loans also fell to minus 1 billion euros, from 24 billion in October. The growth of M3, a measure of money circulating in the area, slowed down to 4.8 percent.
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