Economics
China New Loans Trail Forecasts in Sign of Slower Growth
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China’s new yuan loans trailed forecasts last month, restraining the pace of recovery in the world’s second-biggest economy after a seven-quarter slowdown.
Banks extended 522.9 billion yuan ($84 billion) of local-currency loans, the People’s Bank of China said today. That compares with a 550 billion yuan median estimate in a Bloomberg News survey of 30 economists and 562.2 billion yuan the same month last year. M2, the broadest measure of money supply, rose 13.9 percent from a year earlier, below the median estimate of 14.1 percent.