ECB detects higher private-sector loan growth

Growth of loans to the private sector in the euro area picked up slightly in April, European Central Bank data showed on Tuesday. For the ECB, the statistics are a key indicator of the economic health of the single currency area, as borrowing is a main financing source for corporate investment which in turn should boost the eurozone's currently weak economy. In April, approved loans rose 1.1 percent from a year ago, slightly faster than growth of 1.0 percent in March, an ECB statement said.