Philippines' M3, bank lending growth accelerate in July

    MANILA, Aug 31 (Reuters) - The Philippine central bank on
Thursday released preliminary data for July domestic liquidity
(M3) and bank lending.
 M3 (pct  change yr/yr          Jul   Jun    May    Apr    Mar
                               13.5  13.3   11.3   11.2   11.6
 Bank lending                                                  
 (pct change yr/yr)                                            
 Total loans net of reverse    19.7  19.0   18.7   19.2   20.2
 repurchase (RRP) deals                                     
 Total loans with RRP          18.7  18.3   17.4    16    18.4
 Seasonally adjusted data                                      
 Total loans net of RRP         1.7   1.4    1.7    1.1    1.7
 Total loans with RRP           1.4   1.9    3.3    0.4    0.9
 NOTE: The June M3 figure was revised.
    - The accelerating liquidity growth, driven mainly by demand
for credit, remained in line with the central bank's prevailing
outlook for inflation and economic activity, it said in a
    - Production loans, comprising 88.4 percent of the combined
loan portfolio of universal and commercial banks, grew 18.9
percent in July from a year earlier, accelerating from the
previous month's 17.9 percent rise.
    - Consumer loan growth eased to 22.3 percent from 22.5
percent in June. 

 (Reporting by Enrico dela Cruz; Editing by Subhranshu Sahu)