MONEY SUPPLY
6
THURSDAY, AUGUST 8, 1991
HK$M1 DECLINED BY 0.8%, WHILE BOTH HK$M2 AND HK$M3 GREW BY 2.1% IN JUNE. THESE COMPARED WITH THE CORRESPONDING GROWTH RATES OF -4.4%, 0.1% AND ZERO IN MAY.
OVER THE YEAR, THESE MONETARY AGGREGATES ROSE BY 10.4%, 11.6% AND 10.3% RESPECTIVELY.
TOTAL M1, M2 AND M3 INCREASED BY 0.7%, 0.6% AND 0.7% RESPECTIVELY IN JUNE. THEIR CORRESPONDING GROWTH RATES IN MAY WERE
-4.2%, -0.1% AND -0.4%.
OVER THE YEAR, TOTAL M1, M2 AND M3 GREW BY 13.1%, 16.0% AND 14.4% RESPECTIVELY.
LOANS AND ADVANCES
TOTAL
OUTSTANDING LOANS AND ADVANCES EXTENDED BY AUTHORISED INSTITUTIONS INCREASED BY 0.8% IN JUNE, FOLLOWING INCREASES OF 1.4% AND 1.8% IN APRIL AND MAY RESPECTIVELY.
OF THE TOTAL OUTSTANDING LOANS, THOSE DENOMINATED IN HONG KONG DOLLARS GREW BY 1.0% DURING JUNE, WHILE THOSE DENOMINATED IN FOREIGN CURRENCIES ROSE BY 0.8%. OVER THE YEAR, THESE LOANS GREW BY 15.5% AND 37.1% RESPECTIVELY.
LOANS TO FINANCE VISIBLE TRADE OF HONG KONG GREW BY JUNE, FOLLOWING INCREASES OF 0.3% AND 3.5% IN APRIL RESPECTIVELY. OVER THE YEAR, THESE LOANS GREW BY 20.6%.
3.8% IN AND MAY
OTHER LOANS FOR USE IN HONG KONG GREW BY 1.3% IN JUNE, FOLLOWING INCREASES OF 0.4% AND 0.9% RESPECTIVELY IN THE PRECEDING TWO MONTHS. OVER THE YEAR, THESE LOANS GREW BY 15.8%.
OVER THE
LOANS FOR USE OUTSIDE HONG KONG ROSE BY 0.5% IN JUNE, AFTER INCREASES OF 8.6% AND 2.4% IN APRIL AND MAY RESPECTIVELY. YEAR, THESE LOANS GREW BY 56.0%.
QUARTERLY ANALYSIS OF LOANS AND ADVANCES FOR USE IN HONG KONG BY SECTOR
IN THE SECOND QUARTER OF 1991, TOTAL LOANS FOR USE IN HONG KONG (EXCLUDING THOSE FOR TRADE FINANCING) INCREASED BY 2.6%. OF THESE, LOANS FOR USE IN MANUFACTURING ROSE BY 5.8%, FOLLOWING AN INCREASE OF 5.2% IN THE FIRST QUARTER. OVER THE YEAR, THESE LOANS GREW BY 11.0%.
LOANS TO FINANCE WHOLESALES AND RETAIL TRADE INCREASED BY 4.9%, AFTER A DECLINE OF 1.7% IN THE PREVIOUS QUARTER. OVER THE YEAR, THESE LOANS GREW BY 10.5%.
/LOAN TO