Chart of the Day: Decline in manufacturing loans moderates

On a yearly basis, loans to manufacturing firms went down 2.2%.

The contraction in manufacturing loans improved slightly in May, down 2.2% from the 2.4% decline in the past year.

"This is consistent with a slower rate of expansion seen in the Industrial Production Index.," Maybank Kim Eng said.

Manufacturing loans make up 7% of system loans and 10% of corporate loans.

On the other hand, general commerce loans reported a 6.4% growth, consistent with the recovery in non-oil re-exports which is seen as a proxy for wholesale trade services.

Lending to general commerce makes up 13% and 18% of the system and corporate loans, respectively.

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