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April marks longest stretch in lending decline
Seven straight months of contractions overtake the period of consecutive falls from November 1999 to April 2000
Add BT as a preferred sourcePublished Tue, May 31, 2016 · 09:50 PM
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Singapore
BANK lending in April played heavy funk and blues, with the seven months of consecutive contractions marking the longest-ever period of declines on record, preliminary data from the Monetary Authority of Singapore on Tuesday showed.
Loans through the domestic banking unit - which essentially captures lending in all currencies but mainly reflects Singapore-dollar lending - stood at S$590 billion, down 0.8 per cent from a year ago.
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