(RTTNews) - Lending to Swedish households grew at a slower pace in November, latest report from the Statistics Sweden showed Tuesday.Household lending rose 8.4% year-on-year following 8.6% increase in October. Growth also slowed from 9% recorded a year ago.
Housing loans were up 8.8% on an annual basis in November. That was down from 9.1% growth seen in October. Households' loans for consumption amounted to SEK 155 billion, up 3% year-on-year.
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Swedish Households Lending Growth Slows In November
(RTTNews) - Lending to Swedish households grew at a slower pace in November, latest report from the Statistics Sweden showed Tuesday.
Household lending rose 8.4% year-on-year following 8.6% increase in October. Growth also slowed from 9% recorded a year ago.
Housing loans were up 8.8% on an annual basis in November. That was down from 9.1% growth seen in October. Households' loans for consumption amounted to SEK 155 billion, up 3% year-on-year.
Lending rates of monetary financial institutions rose further in November. The average interest rate for new loan agreements to households was 3.13%, compared to 3% in October.
Furthermore, the statistical office said the narrow monetary aggregate M1 rose 4.7% annually following 6.8% increase in October. The broad monetary aggregate M3 increased 4.8%, unchanged from October.
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