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Euro Zone M3 growth slows down in August |
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FXstreet.com (Barcelona) – Euro Area’s M3 growth has slowed down to 8.8% in the last 12 months to August, down from 9.1% in July, according to the latest estimate by the European Central Bank.
The M3 growth rate has been declining for the last four months and it remains now below the three month’s growing average, at 9.2% from June to August.
The M1, the major component of the M3 has grown at a 0.2% rate on the year in August, the same rate as in July. The annual rate of growth of short-term deposits other than overnight deposits has declined to 19.0% in August from 19.5% in July.
Posted originally: 9/25/2008 8:12:00 AM
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