Singapore's broad money supply increases, but market watchers express concern over business and consumer spending

Growth in public credit and foreign new positions has brought a 12.8% year-on-year increase in Singapore’s broad money supply, RHB’s team of economists note. This is an expansion from the 10.8% growth logged in May.

Of the segments, growth was seen in public credit (+17.1%), net foreign positions (+19.6%) and government deposits (+30.5%).