Euro zone lending shows sign of turnaround as morale improves

Bank lending in the euro zone fell slightly in January but at a slower pace than a month earlier, suggesting the economy may be turning a corner as consumer morale picks up in the bloc's largest economies. European Central Bank President Mario Draghi said late on Wednesday that "all in all, the outlook is more positive than it was a few months ago" in the 19-country euro zone, which has been blighted by recession in the south and falling prices. Sparse lending to firms continues to dog the economy, but data released by the ECB on Thursday showed the overall level of lending to households and firms in the euro zone fell by 0.1 percent in January from a year earlier, after a 0.5 percent drop in December.

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