Consumer loans see record fall in March on virus fallout

Singapore

CONSUMER loans registered its sharpest fall on record over a big shrinkage in unsecured personal loans in March, fresh data from the Monetary Authority of Singapore (MAS) showed on Thursday.

This comes even as loans to businesses continue to grow steadily amid the novel coronavirus fallout, with analysts suggesting that weaker consumption sentiment is starting to show as fears of a deeper recession and job losses loom ahead.