Chinese credit slows even more

Tuesday 12 November 2019

Don’t look to China to save the global economy. October credit is out and was very weak with Aggregate Financing at 619bn yuan and bank lending at 691bn yuan:

That is, shadow banking resunmed its contraction:

The three month moving average for new loans moved closer to zero:

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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.