RHB | Singapore | Industrial Broad Money Slows While Loan Growth Turn Positive

Economic Research	03 August 2015
Singapore
Economic Highlights
Broad Money Slows While Loan Growth Turn Positive Singapore’s broad money (M3) expanded 3.6% y-o-y in June, slowing from its +5.0% reading in May and in comparison with a +4.6% print in April. The moderation in growth was due to a hike in government deposits and slower net foreign position growth. The downside was partially mitigated by greater demand for both public and private credit. Economist:  Ng Kee Chou | +603 92802179
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