Bank loans to eurozone companies grew at their fastest pace since the tail end of the global financial crisis last month while a measure of money circulating – often an indicator of future activity – rose unexpectedly, fresh data showed yesterday.

Corporate lending grew by 2.2 per cent in November, the highest since mid-2009 and also up from 2.1 per cent last month, the European Central Bank said yesterday.

Household lending growth meanwhile accelerated to 1.9 per cent from 1.8 per cent, the highest since min-2011.

The annual growth rate of the M3 measure of money circulating in theeurozone, which has in the past predicted economic activity, meanwhile rose to 4.8 per cent from 4.4 per cent in October, beating forecasts for 4.4 per cent growth.