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China's loan growth is slower than expected
By Zhang Fengming |
June 13, 2011, Monday
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Online Edition
Online Edition
CHINA'S lending waned in May with money supply growing at the slowest pace since 2008, indicating the world's second largest economy is cooling.
Banks extended 551.6 billion yuan (US$84.9 billion) of loans in May, a big fall of 100.5 billion yuan from a year ago, said the People's Bank of China on its website today. It was less than the 650 billion yuan median estimate in a Bloomberg News survey of 20 economists.
M2, the broadest measure of money supply, increased 15.1 percent in May from a year ago but was 0.2 percentage points down from April.
Economists said the monetary data showed new signs that China's economy is heading for a soft landing.
Banks extended 551.6 billion yuan (US$84.9 billion) of loans in May, a big fall of 100.5 billion yuan from a year ago, said the People's Bank of China on its website today. It was less than the 650 billion yuan median estimate in a Bloomberg News survey of 20 economists.
M2, the broadest measure of money supply, increased 15.1 percent in May from a year ago but was 0.2 percentage points down from April.
Economists said the monetary data showed new signs that China's economy is heading for a soft landing.
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