Economic Research | 31 May 2018 | |||
Singapore | ||||
Economic Update | ||||
u Singapore’s M3, including Asian currency units, bounced back to grow 5.3% YoY in April (March: +3.1%). The stronger growth of public and private credit was not enough to offset the slower growth in net foreign position; u Bank lending growth eased slightly to 8.7% YoY in April, but remained healthy – it is near its strongest pace in >3 years; u Going forward, we maintain our expectations for M3 to accelerate to +6.2% in 2018 from 4.1% in 2017, premised on a strong SGD, stable economic prospects, and pick-up in property transactions. Economist: Vincent Loo Yeong Hong | +603 9280 2172 | ||||
To access our recent reports please click on the links below: 28 May: Stronger April IPI Growth, In Line With Exports 24 May: GDP Above Initial Estimate 23 May: April’s Inflation Still Soft 17 May: NODX Rebounds In April On Pharma Exports 30 Apr: M3 Eases In March, Loans Stay On Upward Trend 26 Apr: IPI: Stellar Semicon Growth But Weakness Persists | ||||
Economics Team | ||||
Arup Raha | Group Chief Economist | +65 6232 3896 | ||
Peck Boon Soon | Chief ASEAN Economist | +603 9280 2163 | ||
Vincent Loo Yeong Hong | Malaysia, Singapore | +603 9280 2172 | ||
Ahmad Nazmi Idrus | Indonesia | +603 9280 2179 | ||
Aris Nazman Maslan | Thailand, Philippines , Vietnam | +603 9280 2184 | ||
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