The European Central Bank (ECB) revealed that the annual growth rate of total credit to euro area residents stood at 4.4 percent in June 2017, compared with 4.5 percent in the previous month. Meanwhile, the annual growth rate of credit to general government dropped to 8.1 percent from 9.5 percent, while the annual growth rate of credit to the private sector rose to 3.1 percent from 2.9 percent.

The annual growth rate of adjusted loans to the private sector decreased to 2.5 percent in June, from 2.7 percent in May. In particular, the annual growth rate of adjusted loans to households stood at 2.6 percent in the reviewed period, unchanged from the previous month, and the annual growth rate of adjusted loans to nonfinancial corporations reduced to 2.1 percent from 2.5 percent.