Chart of the Day: Here's what February's consumer loan growth means

Even with consumer loans up 0.8%, weak consumer sentiment persists.

Consumer loans saw a rebound in February, registering a 0.8% growth from a reading of -0.1% in the previous month.

However, this still reflects weak consumer sentiment and headwinds in the domestic property market, said a report by Maybank Kim Eng.

Housing loans remained at a muted 4.2% year-on-year growth, whilst other loans continued to contract. Other loans registered a -6.5% growth yoy. This is at a slower pace compared to an 8.4% contraction recorded in the previous month.

Credit cards and car loans both grew yoy in the said month at 5.1% and 0.2%, respectively. However, both are unable to support the overall slack as they form only 6% of total consumer loans.