Economic Research | 28 February 2018 | |||
Singapore | ||||
Economic Update | ||||
Loans Growth The Strongest In Three Years Singapore’s M3, including Asian currency units, picked up to 4.5% YoY in January. This was mainly on the back of a stronger growth in net foreign positions during the month, while government deposits declined at a slower pace. These were, however, partly offset by slower increases in both public and private credit growth. Going forward, we maintain our expectations for M3 to accelerate to +6.2% in 2018 from 4.1% in 2017. This is premised on a strong SGD, rising economic prospects, and a pick-up in property transactions. Economists: Vincent Loo Yeong Hong | +603 9280 2172 Aris Nazman Maslan | +603 9280 2184 | ||||
To access our recent reports please click on the links below: 26 February : IPI Picks Up In Early 2018 26 February : Inflation Stagnated in January 19 February: 2017 GDP Beat Forecasts, Growth To Slow But Broaden 19 February: January NODX Growth Shows Broadening Signs 15 February: Budget 2018: GST Hike, E-Commerce Tax Expected | ||||
Economics Team | ||||
Arup Raha | Group Chief Economist | +65 6232 3896 | ||
Peck Boon Soon | Chief ASEAN Economist | +603 9280 2163 | ||
Vincent Loo Yeong Hong | Malaysia, Vietnam | +603 9280 2172 | ||
Rizki Fajar | Indonesia, Philippines | +6221 2970 7065 | ||
Aris Nazman Maslan | Malaysia, Vietnam | +603 9280 2184 | ||
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