Eurozone M3 money supply rose 5.9% on a yearly basis in February, a report from the European Central Bank showed Thursday. Annual growth slowed from January's 6% increase. However, the growth rate stood above 5.5% rise expected by economists.
The three-month average of the annual growth rates of M3 over the period December to February decreased to 6.5% from 7.1% recorded during three months to January 2009.
Among the main components of M3, M1 growth increased to 6.3% from 5.1% in January. The annual rate of growth of short-term deposits other than overnight deposits slowed to 7.7% in February, while the annual growth of marketable instruments was zero in February.
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