The volume of loans to non-financial organizations in the euro area increased in August by 4.2% in annual terms after an increase of 4% in the previous month, according to the European Central Bank. The growth rate in August was the highest since May 2009. The ECB noted that this trend should support investment in the euro area. Consumer lending in August increased in annual terms by 3.1% after the rise of 3% a month earlier. Monetary aggregate of the currency zone M3 increased in August by 3.5%, having slowed the rise compared to the increase of 4% in July. Economists had expected growth of 3.8%.
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