PHOTO
Bank lending across the euro zone remained weak in November, data from the European Central Bank showed on Tuesday, adding to already ample evidence that the bloc's economy was at best stagnating in the closing months of last year.
Bank lending to businesses was unchanged compared to a year earlier after a 0.3% drop in October while lending growth to households slowed to 0.5% from 0.6%, the ECB said.
The M3 measure of money supply, seen in the past as a good indicator of future economic expansion, meanwhile contracted by 0.9% in November after a 1.0% drop in October, coming in not far from expectations for a minus 1.0% reading. (Reporting by Balazs Koranyi; Editing by Alison Williams)