December 29, 2017 / 6:48 AM / a year ago

Philippines' M3, bank lending growth slow in November

    MANILA, Dec 29 (Reuters) - The Philippine central bank on
Friday released preliminary data for November domestic liquidity
(M3) and bank lending.
    
 M3 (pct  change yr/yr)        Nov    Oct   Sept    Aug    Jul
                              14.0   14.8   14.5   15.4   13.5
 Bank lending                                                  
 (pct change yr/yr)                                            
 Total loans net of reverse   19.2   19.9   21.1   20.4   19.7
 repurchase (RRP) deals                                        
 Total loans with RRP         18.3    18    20.1   17.9   18.7
 Seasonally adjusted data                                      
 Total loans net of RRP        1.2    0.8    1.8    1.8    1.7
 Total loans with RRP          1.9   -0.4    2.9    0.8    1.4
 
    - The liquidity growth remained broadly consistent with the
central bank's prevailing outlook for inflation and economic
activity, it said in a statement.
    - Production loans, comprising 88.4 percent of the combined
loan portfolio of universal and commercial banks, also grew at a
slower 18.5 percent pace in November from a year earlier, after
the previous month's 18.7 percent rise.
    - Consumer loan growth decelerated to 20.6 percent from 23.4
percent in October.
    

 (Reporting by Enrico dela Cruz; Editing by Subhranshu Sahu)
  
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