Greek credit shrinks 5 percent y/y in May

ATHENS, July 10 Thu Jul 10, 2014 6:23am EDT

ATHENS, July 10 (Reuters) - Total credit in Greece shrank 5 percent year-on-year in May, with the pace of decline accelerating from the previous month, Bank of Greece data showed on Thursday.

Credit extended to the government fell 14.9 percent after shrinking by 4.5 percent in April, the central bank said.

Lending to businesses and households also declined by 3.5 percent compared to a 3.7 percent decline in April. *************************************************************** KEY FIGURES (in pct y/y) MAY APRIL MARCH FEB JAN DEC Total credit -5.0 -3.8 -4.1 -4.7 -5.5 -6.0 Credit to public sector -14.9 -4.5 -4.2* -9.3 -13.9 -18.1 Credit to business, hholds -3.5 -3.7 -4.1 -4.0 -4.0 -3.9 -------------------------------------------------------------

source: Bank of Greece (Reporting by Karolina Tagaris and Angeliki Koutantou)

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