Greek credit growth contracts 3.4 pct in October

Total credit growth in Greece shrank 3.4 percent year-on-year in October, with the pace of decline easing from the previous month, Bank of Greece data showed on Tuesday.

Credit extended to the government rose 1.3 percent in October, compared with zero percent growth in the previous month.

Lending to businesses and households shrank 4.8 percent compared to a 4.5 percent contraction in September. [Reuters]