ECONOMY

Greek credit contraction accelerated in October, data shows

The annual pace of credit contraction in Greece accelerated in October, to 1.2 percent from 0.9 percent in September, central bank data showed on Wednesday.

Credit to the government expanded by 1.9 percent year-on-year in October, the Bank of Greece said in a report. Lending to businesses and households dropped 2.2 percent, the same pace as in September. [Reuters]