Wednesday, August 2, 2017

M3 And Loan Growth Rise in June

Economic Research
1 August 2017

Economic Update

The Philippines’ broad money supply (M3) growth rose 13.2% YoY in June, attributed to a pick-up in net domestic claims. Going forward, we expect broad money to grow at a more moderate pace of 10% in 2017 (2016: +12.7%), in line with a projected softer economic growth.

Private credit rose in June. Total loan growth picked up on account of faster growth in loans extended to businesses. Going forward, however, we expect demand for private credit to moderate somewhat to 15.8% in 2017 from 17.4% in 2016. This is on the back of expectations of a more moderate economic growth.

Economist:  Rizki Fajar  | +6221 2970 7065

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