Economics
China Credit Growth Falls as Tepid Economy Dents Loan Demand
- Data rounds out week of mixed readings from trade to output
- Aggregate financing was lower than all 25 economist forecasts
China’s Unstimulated Economy Dents Loan Demand
This article is for subscribers only.
China’s broadest measure of new credit slumped to the lowest in 15 months in October, adding to evidence six central bank interest-rate cuts in a year have yet to spur a sustained pick up in borrowing.
Aggregate financing fell to 476.7 billion yuan ($75 billion), according to a report from the People’s Bank of China on Thursday. That was lower than all 25 economists’ projections and less than half the median forecast 1.05 trillion yuan.