FRANKFURT (AFX) - Euro area M3 grew 7.8 pct year-on-year in May, down from a revised year-on-year growth rate of 7.4 pct in April.
The three month moving average of M3 year-on-year growth rates was 7.5 pct in the March-May period compared with 7.4 pct in Feb-April.
The figures exclude non-resident holdings of money market fund shares and units, money market paper and short-term debt securities. They are also adjusted for seasonal and end-of-month calendar effects.