# Euro-area money growth | PIER20 benchmarks

Is broad euro liquidity accelerating or contracting?

Euro-area money growth tracks M3 YoY and M1 YoY. It uses monthly data.

The latest data is from **June 2026**. The M1 YoY reading is **4.71%**. The M3 YoY reading is **4.02%**. The M3 minus M1 reading is **-0.69 pp**. The M1 YoY line is down 0.1 pp over the past year. It is below its long-run median of 7.46%.

## Summary statistics (full history)

| Series | First | Latest | Min | Max |
|---|---|---|---|---|
| M1 YoY | 9.40 | 4.71 | -10.41 | 17.77 |
| M3 YoY | 11.52 | 4.02 | -2.11 | 12.80 |
| M3 minus M1 | 2.12 | -0.69 | -13.26 | 9.66 |

## Last 24 readings

| Date | M1 YoY | M3 YoY | M3 minus M1 |
|---|---|---|---|
| Jun 2024 | -3.67 | 2.40 | 6.06 |
| Jul 2024 | -3.21 | 2.55 | 5.76 |
| Aug 2024 | -1.94 | 3.22 | 5.16 |
| Sep 2024 | -1.05 | 3.47 | 4.52 |
| Oct 2024 | 0.33 | 3.74 | 3.42 |
| Nov 2024 | 1.67 | 4.29 | 2.62 |
| Dec 2024 | 2.37 | 4.13 | 1.76 |
| Jan 2025 | 3.06 | 4.17 | 1.11 |
| Mar 2025 | 4.24 | 4.09 | -0.15 |
| Apr 2025 | 4.79 | 4.15 | -0.63 |
| May 2025 | 5.12 | 4.16 | -0.95 |
| Jun 2025 | 4.81 | 3.45 | -1.36 |
| Jul 2025 | 5.13 | 3.41 | -1.72 |
| Aug 2025 | 4.78 | 2.82 | -1.96 |
| Sep 2025 | 4.75 | 2.68 | -2.08 |
| Oct 2025 | 5.31 | 3.03 | -2.28 |
| Nov 2025 | 4.65 | 2.91 | -1.74 |
| Dec 2025 | 4.72 | 2.61 | -2.11 |
| Jan 2026 | 5.73 | 3.23 | -2.49 |
| Feb 2026 | 5.32 | 3.02 | -2.30 |
| Mar 2026 | 5.67 | 3.63 | -2.04 |
| Apr 2026 | 5.04 | 3.35 | -1.69 |
| May 2026 | 4.86 | 3.59 | -1.28 |
| Jun 2026 | 4.71 | 4.02 | -0.69 |

## How to read this benchmark

**How to read it.** A positive gap means M3 grows faster than M1. The percentile compares M3 growth with its available history.

## How this benchmark is used

**Why traders watch it.** Traders use this benchmark to track euro liquidity and changes in monetary conditions.

## Frequently asked questions

**What is the latest reading for Euro-area money growth?**

The latest data is from June 2026. The M1 YoY reading is 4.71%. The M3 YoY reading is 4.02%. The M3 minus M1 reading is -0.69 pp. The M1 YoY line is down 0.1 pp over the past year. It is below its long-run median of 7.46%.

**How often does this benchmark update?**

The source publishes monthly data. PIER20 updates the page after each new observation. The chart shows the data date and fetch date.

**What data sources does this chart use?**

The European Central Bank Data Portal publishes the data. The methodology section lists each source series.

**Where does the data come from?**

The European Central Bank (ECB) publishes the source data. The source table lists each series and its exact link.

## Methodology

- Formula: M3 YoY and M1 YoY
- Frequency: Monthly
- Sources: M1 YoY (m1-yoy) https://data-api.ecb.europa.eu/service/data/BSI/M.U2.Y.V.M10.X.1.U2.2300.Z01.E; M3 YoY (m3-yoy) https://data-api.ecb.europa.eu/service/data/BSI/M.U2.Y.V.M30.X.1.U2.2300.Z01.E; M3 minus M1 (m3-m1-gap) https://data-api.ecb.europa.eu/service/data/BSI/M.U2.Y.V.M10.X.1.U2.2300.Z01.E. Data via the European Central Bank Data Portal.
- Data through: June 2026
- Last refreshed: 11 Aug 2026

Full interactive chart: https://pier20.com/benchmarks/euro-area-money-growth
Disclaimer: research software output, not investment advice.