Euro-Zone Private Loans Down 0.1% In May

According to the European Central Bank, private-sector lending across the euro zone declined 0.1% y/y in May, versus a growth of 0.2% in April.

M3 money supply grew at a 2.9% annual rate, versus 2.5% in April. However, economists were expecting M3 to grow at a 2.4% rate.