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Singapore lending slumps after a 4-month winning streak
No thanks to the fall in general commerce loans.
After four consecutive months of showing growth, bank lending in Singapore fell for the first time in January, easing 1.6% from $617.3b in December to $617.09b.
According to the figures released by the Monetary Authority of Singapore, this is still higher than last year's $600.2b.
The fall is attributable to the decline in business loans at $366.7b from $367b in December. General commerce posted the largest decline in loans, down to $62b from $63.96b.
Meanwhile, consumer loans inched slightly, from $250.34 to $250.38.
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