Consumer loans dive in April as circuit breaker kicks in
Analysts note that circuit-breaker measures had larger negative impact on consumer loans than business loans
Add BT as a preferred source
Singapore
CONSUMER loans in Singapore continued to dive in April, with credit card loans clocking their steepest fall on record as the Republic's circuit breaker took effect on April 7, keeping people at home and most retail outlets shut, according to the latest data from the Monetary Authority of Singapore (MAS).
Economists noted that the slide in consumer loans will likely persist in May, with recovery to be seen only when retail shops, property and car showrooms open.
TRENDING NOW
DBS, OCBC and UOB shares hit all-time highs as sentiment improves
E-commerce job cuts signal S-E Asia’s shift from scaling to deeper user engagement
Targeted credit relief: Vietnam steers funding to Vingroup, Sun Group, Masterise megaprojects
With AI, it’s not about coding better; workers need to think better: Koh Boon Hwee
