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FRIDAY, AUGUST 2, 1985
IN THE THREE MONTHS TO JUNE, HK$M1 GREW BY 6.9 PER CENT WHILE HK$M2 AND HK$M3 GREW AT THE SAME PACE OF 3.3 PER CENT. OVER THE 12 MONTHS TO JUNE THE CORRESPONDING INCREASES WERE 29.2 PER CENT, 24.5 PER CENT AND 20.9 PER CENT.
THE GROWTH RATES OF HK$M2 AND HK$M3 IN JUNE, AFTER ADJUSTING
IN THE THREE FOR SWAP DEPOSITS, WERE IDENTICAL AT 0.9 PER CENT. MONTHS TO JUNE, THEY ALSO RECORDED THE SAME GROWTH RATE OF 3.2 PER CENT.
TOTAL MONEY SUPPLY
TOTAL MONEY SUPPLY ON ALL DEFINITIONS GREW FURTHER IN JUNE. TOTAL M1 ROSE BY 5.0 PER CENT, TOTAL M2 BY 1.3 PER CENT AND TOTAL M3 BY 1.6 PER CENT. THE CORRESPONDING GROWTH RATES IN MAY WERE 2.4 PER CENT, 2.2 PER CENT AND 1.8 PER CENT.
IN THE THREE MONTHS TO JUNE, TOTAL M1 GREW BY 7.7 PER CENT TOTAL M2 BY 4.7 PER CENT AND TOTÁL M3 BY 4.6 PER CENT. OVER THE 12 MONTHS TO JUNE, THE CORRESPONDING GROWTH RATES WERE 29.3 PER CENT, 22.6 PER CENT AND 20.7 PER CENT.
LOANS AND ADVANCES
LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT-TAKING COMPANIES ROSE BY A MODEST 0.4 PER CENT, FOLLOWING A RISE OF 0.9 PER CENT IN MAY. IN THE THREE MONTHS TO JUNE, THESE LOANS GREW BY 1.7 PER CENT AND OVER THE 12 MONTHS BY 7.2 PER CENT.
WITHIN THE TOTAL, LOANS TO FINANCE VISIBLE TRADE OF HONG KONG REGISTERED FURTHER DECLINE OF 2.1 PER CENT IN JUNE, FOLLOWING A FALL OF 2.0 PER CENT IN THE PREVIOUS MONTH. IN THE THREE MONTHS TO JUNE, THESE LOANS FELL BY 0.5 PER CENT AND OVER THE 12 MONTHS BY 5.4 PER CENT.
OTHER LOANS FOR USE IN HONG KONG, HOWEVER, CONTINUED TO GROW SLOWLY BY 0.8 PER CENT, FOLLOWING A 0.7 PER CENT INCREASE IN MAY. IN THE THREE MONTHS TO JUNE. THEY ROSE BY 2.5 PER CENT AND OVER THE 12 MONTHS BY 7.6 PER CENT.
QUARTERLY ANALYSIS OF LOANS AND ADVANCES FOR USE IN
HONG KONG BY SECTOR
LOANS
IN THE SECOND QUARTER, LOANS AND ADVANCES EXTENDED TO THE MANUFACTURING SECTOR ROSE BY 1.8 PER CENT, LOWER THAN THE CORRESPOND ING GROWTH OF 3.3 PER CENT IN THE FIRST QUARTER. TO THE WHOLESALE AND RETAIL TRADES GREW BY 3.3 PER CENT, REVERSING A DECLINE OF 1.9 PER CENT IN THE FIRST QUARTER.
/LOANS TO