M3 Softens As Corporate Loans Continue To Tumble

Economic Research	01 November 2016
Singapore
Economic Highlights
M3 Softens As Corporate Loans Continue To Tumble Singapore’s broad money supply (M3) grew 4.0% y-o-y in September, on broad-based weaknesses, from +4.3% the month before.  Bank lending declined 5.0% in September, moderating slightly from a 5.2% drop the month before, supported by slightly improved demand for consumer loans. Business loan growth remained weak at -7.4% y-o-y. Economist:  Ng Kee Chou | +603 92802179
To access our recent reports please click on the links below: 27 October  2016: September IPI Surged On Pharmaceuticals And Semiconductor Gains 25 October  2016: September CPI Decline Stalls; Consumer Sentiment Remains Weak 18 October  2016: September NODX Slips Back Into Decline 17 October  2016: MAS Holds Out On Easing Despite Sharp Downturn In 3Q GDP 04 October  2016: August M3 Picks Up But Loan Growth Continues To Deteriorate 27 September  2016: August IPI Inched Higher From Low 2015 Base