EMU: M3 Money Supply grows 3.5% in January

The three-month average of the annual growth rates of M3 in the period from November 2012 to January 2013 stood at 3.5%, compared with 3.7% in the period from August 2012 to October 2012.

The annual growth rate of M3 increased to 3.5% in January 2012, from 3.3% in December 2012, above expectations of +3.2%.

Year-over-year Private loans fell 0.9% in January, down from the 0.7% decline in December and below forecasts of -0.6%.