- Prior +12.4%
- New yuan loans ¥1,360.0 billion vs ¥1,600.0 trillion expected
- Prior ¥718.8 billion
China’s broad money growth continues to slow further as credit conditions tighten and that will put pressure on Beijing to push forward with more stimulus. New loans are still on the high side this year but they are a miss on estimates for last month. If anything else, the data just reaffirms the need for the government to keep doing more to spur economic activity.