The European Central Bank has implemented measures to bolster lending in the eurozone, but a contraction in corporate lending accelerated in November. "Worryingly, there is still no sign of any trend change in bank lending to eurozone businesses, which heaps pressure on the ECB to act," said Howard Archer of IHS Economics. "Banks likely believe the economic situation and outlook in many eurozone countries still provides an uncertain and risky backdrop in which to lend, despite the eurozone eking out modest growth since the second quarter."

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