Euro zone bank lending accelerates in November

FRANKFURT, Jan 2 (Reuters) - Lending growth to euro zone firms and households accelerated in November, European Central Bank data showed on Friday, adding to evidence that the currency bloc continues to grow at a steady, even if modest pace.

Credit growth to businesses picked up to 3.1% in November from 2.9% a month earlier to reach its highest level since mid-2023, while loan growth to households accelerated to 2.9% from 2.8% for its highest level since the spring of 2023.

The M3 measure of money circulating in the euro zone, often an indicator of future activity, accelerated to 3.0% from 2.8%, outpacing expectations for 2.7% growth in a Reuters poll of analysts.