Private sector loans growing fast in eurozone: ECB

The volume of loans to the private sector in the euro area expanded in October, with a bigger bounce recorded than the previous month, European Central Bank data showed on Thursday. The data are for the ECB a key indicator of economic health, as borrowing is a main financing source for corporate investment which in turn should boost the eurozone's currently weak economy.

During the month, loans accorded rose 1.0 percent from a year ago, compared to a growth of 0.6 percent recorded in September, an ECB spokesman said.

When certain strictly financial transactions are stripped out from the loans data, the trend remains the same -- with credit accorded to households and companies up 0.8 percent in October, up from 0.4 percent in September and 0.7 percent in August.

The ECB has launched a raft of policy measures to get credit flowing, most significantly a massive programme to buy more than one trillion euros ($1.1 trillion) worth of public sector bonds to pump liquidity into the system.