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China Credit Growth Tops Forecasts in Rebound From Lending Slump
Key Points
China Credit Growth Tops Forecasts in Rebound From Lending Slump China’s credit expansion held up better than expected in May, rebounding after a rare contraction in loans the previous month. Economists had expected lending activity to remain sluggish, with little sign of a rebound in consumer spending and private investment. China’s weak appetite for credit was evident in money markets, where excess liquidity drove interbank borrowing costs lower in May before their recovery this month.
China Credit Growth Tops Forecasts in Rebound From Lending Slump
China’s credit expansion held up better than expected in May, rebounding after a rare contraction in loans the previous month.
Economists had expected lending activity to remain sluggish, with little sign of a rebound in consumer spending and private investment. China’s weak appetite for credit was evident in money markets, where excess liquidity drove interbank borrowing costs lower in May before their recovery this month.
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