China’s new yuan loans fell 14 percent in October from a year earlier, damping signs the world’s second-biggest economy is recovering after a seven- quarter slowdown. Banks extended 505.2 billion yuan ($81.1 billion) of local- currency loans in October, the Beijing-based People’s Bank of China said on its website today. That compares with the median estimate of 590 billion yuan in a Bloomberg News survey of 28 analysts and 586.8 billion yuan a year earlier. Today’s report compares with data last week that showed an improving economic outlook as the ruling Communist Party holds a congress in Beijing to anoint new ... (full story)