Money supply growth in the euro zone slowed in July, but credit growth did not. From AFX/Forbes:
Euro zone M3 money supply grew 7.8 pct year-on-year in July, down from an 8.5 pct growth rate in June, the European Central Bank said.
Economists polled by AFX News had forecast a July growth rate of 8.3 pct...
The annual growth rate of M1, which is the currency in circulation and overnight deposits, fell to 7.4 pct in July from 9.3 pct in June.
Loans to the private sector grew 11.1 pct year-on-year in July, up from a growth rate of 11.0 pct in June. Economists had forecast a slower grow rate of 10.8 pct.
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