XN000022-1984-05-04 — Page 7

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FRIDAY, MAY 4, 1984

TOTAL MONEY SUPPLY

TOTAL MONEY SUPPLY ON ALL DEFINITIONS GREW.

TOTAL M1 ROSE BY 3.9 PER CENT, IN CONTRAST WITH A DECLINE OF 8.1 PER CENT IN FEBRUARY. TOTAL M2 ROSE BY 2.4 PER CENT AND TOTAL M3 BY 1.7 PER CENT, FOLLOWING INCREASES IN FEBRUARY OF 1.5 PER CENT AND 2.0 PER CENT RESPECTIVELY.

IN THE THREE MONTHS TO MARCH, TOTAL M1 ROSE BY 11.2 PER CENT, TOTAL M2 BY 8.5 PER CENT AND TOTAL M3 BY 7.9 PER CENT. DURING THE 12 MONTHS TO MARCH, THE CORRESPONDING GROWTH RATES WERE 20.1 PER CENT, 27.7 PER CENT AND 28.1 PER CENT.

LOANS AND ADVANCES

TOTAL LOANS AND ADVANCES EXTENDED BY BANKS AND DEPOSIT-TAK ING COMPANIES ROSE BY 1.2 PER CENT FOLLOWING A RISE OF 0.4 PER CENT IN FEBRUARY. IN THE THREE MONTHS TO MARCH THE INCREASE WAS 1.9 PER CENT AND OVER THE 12 MONTHS 15.4 PER CENT.

LOANS TO FINANCE VISIBLE TRADE OF HONG KONG ROSE BY A MORE RAPID 2.6 PER CENT WHILE OTHER LOANS FOR USE IN HONG KONG RECORDED A MODEST GROWTH OF 0.5 PER CENT.

THE GROWTH RATES OF THESE LOANS IN THE THREE MONTHS TO MARCH WERE 1.8 PER CENT AND 1.2 PER CENT RESPECTIVELY. OVER THE 12 MONTHS THEIR CORRESPONDING GROWTH RATES WERE 15.1 PER CENT AND 8.1 PER CENT.

QUARTERLY ANALYSIS OF LOANS AND ADVANCES FOR USE

IN HONG KONG BY SECTOR

IN THE FIRST QUARTER, LOANS AND ADVANCES EXTENDED TO THE MANUFACTURING SECTOR ROSE BY 4.0 PER CENT FOLLOWING A CONTRACTION OF 0.2 PER CENT IN THE FOURTH QUARTER OF 1983.

LOANS TO THE WHOLESALE AND RETAIL TRADE SECTOR FELL BY 2.0 PER CENT AFTER A STRONG GROWTH OF 7.8 PER CENT IN THE PREVIOUS QUARTER.

LOANS TO THE BUILDING AND CONSTRUCTION SECTOR CONTINUED TO FALL, BY 0.6 PER CENT, BUT THE FALL WAS SUBSTANTIALLY SMALLER THAN THE PREVIOUS QUARTER'S 8.6 PER CENT.

BORROWING BY INDIVIDUALS TO PURCHASE RESIDENTIAL PROPERTY OTHER THAN FLATS IN THE HOME OWNERSHIP SCHEME AND PRIVATE SECTOR PARTICIPATION SCHEME RECORDED A FASTER GROWTH OF 4.8 PER CENT, COMPARED WITH THE PREVIOUS QUARTER'S 2.6 PER CENT.

FOREIGN CURRENCY