Pantheon Macroeconomics - The headline in yesterday's EZ money supply report gave the illusion that monetary conditions are stable, but the details tell a different story. M3 growth
accelerated marginally to 5.0% year-over-year in June, from 4.9%, but momentum in narrow money fell further. M1 growth slowed to 8.5% year-over-year, from 9.0% in May due to a fall in overnight deposits and currency in circulation.

Eurozone | 28 July. 2016 EZ M1 Growth Slips Further, Signalling Lower Growth in 2017
The headline in yesterday's EZ money supply report gave the illusion that monetary conditions are stable, but the details tell a different story. M3 growth accelerated marginally to 5.0% year-over-year in June, from 4.9%, but momentum in narrow money fell further. M1 growth slowed to 8.5% year-over-year, from 9.0% in May due to a fall in overnight deposits and currency in circulation.

Sorry, but our website is best viewed on a device with a screen width greater than 320px. You can contact us at: info@pantheonmacro.com.

28 July. 2016 EZ M1 Growth Slips Further, Signalling Lower Growth in 2017

By Claus Vistesen

The headline in yesterday's EZ money supply report gave the illusion that monetary conditions are stable, but the details tell a different story. M3 growth accelerated marginally to 5.0% year-over-year in June, from 4.9%, but momentum in narrow money fell further. M1 growth slowed to 8.5% year-over-year, from 9.0% in May due to a fall in overnight deposits and currency in circulation.

Posted: 28th Jul 2016 in 'Eurozone'

This document is only available to subscribers of our Eurozone Economic Research.

Request a complimentary trial or login here

Are you taking full advantage of our daily publications?

Pantheon Macroeconomics produce daily publications for U.S., Eurozone, Latin America, UK and Asia, as well as analysis on key data within a few minutes of their release. To activate a complimentary trial on any of these areas, please click here.

U.S. Economic ResearchEurozone Economic ResearchLatin America Economic ResearchUK Economic ResearchAsia Economic Research

« Go back to publications list, or Click here to register for a complimentary trial
Consistently Right

Access Key Enabled Navigation

Keywords for: Eurozone | 28 July. 2016 EZ M1 Growth Slips Further, Signalling Lower Growth in 2017

ez money supply, money supply, m1 growth, m3 growth, business cycle, ecb, qe, eurozone, euro, consumer spending, germany, consumer, pantheon macroeconomics, pantheon, macroeconomic, macroeconomics, independent advice, independent analysis, independent macroeconomic researcj, independent, analysis, research, economic intelligence, economy, economic, economics, economists, Dr. Ian Shepherdson, Ian Shepherdson, financial market, financial, market, finance, macro, macro research, independent macro research