Saudi Arabia’s monetary aggregates continued to show solid growth reflecting strong economic performance, albeit at a slower pace than in previous months reflecting a seasonal trend. Growth in broad money (M3) slowed to 14 percent year-on-year (-0.2 percent month-on-month) in June from 16 percent in May. The narrower M2 measure, which includes demand deposits, time and savings deposits and currency outside banks, also slowed to 14.3 percent year-on-year (0.2 percent month-on-month) in June versus 15.6 percent in May. The slower growth in both measures reflect a slower growth in demand, time and saving deposits, which increased 14.8 percent year-on-year (0.2 percent month-on-month) in June down from 16.2 percent in May. Source: Arab News
Posted on: Wed, 31 Jul 2013 07:08:55 +0000
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