Economic Buzz: Eurozone M3 Improves In April

Eurozone money supply and credit to private sector improved 3.9 percent year-on-year in April, faster than the 3.7 percent rise in March, data from the European Central Bank showed Tuesday. On the other hand, the narrow measure, M1 that covers currency in circulation and overnight deposits, expanded 7 percent versus 7.5 percent increase in March. Data showed that the annual growth rate of credit to the private sector increased to 3 percent in April from 2.6 percent in March. Adjusted loans to the private sector gained 3.1 percent after rising 3 percent.