Bank lending in China declined sharply in October from September, from 2.47 trillion yuan to 615.2 billion yuan.
The sharp slowdown comes as demand weakens across the economy on the back of rising Covid-19 cases and tighter government restrictions.
The October result, released this Thursday (10) by the People’s Bank of China (PBoC), was also below the 825 billion yuan expected by economists consulted by the The Wall Street Journal🇧🇷
Social financing, a broader credit metric that includes loans issued by non-financial institutions, totaled 907.9 billion in October, down from 3.53 trillion yuan in September, the PBoC said.
M2, the broadest measure of credit supply in China, rose 11.8% from October 2021, below September’s 12.1% annual high and analysts’ expectations of a 12% gain.
Source: CNN Brasil
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