Monday, August 1, 2016

Sharp Dive In Business Loans Point To Economic Weakness Ahead

Economic Research
01 August 2016

Economic Highlights

Singapore’s broad money supply (M3) jumped 4.3% y-o-y in June, from +3.1% the month before, thanks to a smaller contraction in public credit demand. Meanwhile, demand for credit from the private sector eased, dragged by a sharp downturn in corporate loans, while the island’s net foreign position growth also decelerated noticeably, capping some of the upside. Foreign reserves rose to USD248.9bn, from USD247.1bn the month before.

Economist:  Ng Kee Chou | +603 92802179

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