ECB Reports Slight Uptick in Eurozone Economic Activity

The European Central Bank (ECB) released its latest monetary developments report for June 2026, showing an increase in the annual growth rate of broad monetary aggregate M3 to 3.3% from 3.0% in May.

This marks a slight uptick in economic activity, with the average annual growth rate of M3 over the past three months averaging 3.0%.

The components of M3 saw varied developments, with the narrower aggregate M1 decreasing to 3.4% in June from 3.7% in May, while short-term deposits other than overnight deposits (M2-M1) increased to 2.8% in June from 1.4% in May.

The ECB's data shows that marketable instruments (M3-M2) contributed significantly to the growth of M3, increasing to 4.5% in June from 3.2% in May.