Chinese bank loans retrace

Tuesday 12 March 2013

Missed this yesterday. Chinese new loans for February retraced much of January’s huge spike:

Much of this will be the result of Chinese New Year distortions again. Still, if we combine January and February the number is up a handsome 17% on last year:

As I said the other day, it’s the March figure I’m interested in. Last year saw a big jump. If matched this year it will be some evidence of a broadening recovery.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.