Eurozone Household Lending Falls

October 27, 2009 Share Print 0

Lending to companies and household has decreased by 0.3% annually. European governments are trying to spend their way out of a recession trying to stimulate consumption, and as it stands the slight growth in the last quarter could have been short lived.

The annual rate of lending to households also fell by 0.3%, following a fall of 0.2% in August.

Mortgage lending fell at an even faster pace, by 0.6%.

“The September credit data reinforce concerns that weak bank lending could hold back eurozone recovery,” said Howard Archer at IHS Global Insight.

He added that restricted lending could remain a “serious handicap” to recovery.

BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.