Money supply growth in the EU keeps accelerating

Money supply in the European Union kept growing at an accelerated pace in June. The broad aggregate M3 grew by 9.4% y/y compared to 9% y/y increase in May. The narrower aggregate, M1, posted a 12.8% y/y increase, slightly accelerating compared to May (12.6% y/y growth).

Money supply in the EU started to grow at a significantly higher rate in March 2020, as the authorities in the EU and in the member states were confronted with the COVID-19 outbreak and its negative economic impact.
 

Further data and analysis on economies in Europe could be found on the CEIC Euro Area Economy in a Snapshot – Q2 2020 report.