Central bank: Total credit expansion dropped off slightly in September

Total credit expansion in Greece slowed to an annual rate of 19.7 percent in September, from 20.1 percent in the previous month, the Bank of Greece said yesterday. Annual credit growth to households slowed to 16.4 percent in September from 17 percent in the previous month, «continuing its slowdown since the start of 2006,» the country’s central bank said. Credit to business expanded at an annual 22.7 percent clip in September, or by 1.96 billion euros, slowing from 22.9 percent in August. A breakdown shows loan growth in September slowing to industrial and trading companies but rising in tourism and construction.

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