MNI BRIEF: China November M2 Slows To Half-year Low
Dec-12 09:28
China+ 3
China's M2 money supply grew by 8.0% y/y in November, marking the lowest reading since May, missing market forecasts of 8.2% growth and slowing from October's 8.2% gain, data released on Friday by the People's Bank of China showed.
New yuan loans increased for the second month by CNY390 billion in November, rising from October's CNY220 billion. Total social financing rose by CNY2.49 trillion, rising from CNY810 billion in October. While M1 rose by 4.9% y/y, decelerating from October's 6.2% growth. M0 grow by 10.6% y/y, flat from the previous reading.
Shadow banking transactions increased by CNY214.5 billion, compared to a CNY108.5 billion contraction in the previous month.
