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MNI BRIEF: China April M2 Unexpectedly Slows To Record Low

MNI (Singapore)
MNI (Beijing)
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China's M2 money supply slowed more than expected to 7.2% y/y, hitting a new low since the data was first recorded in 2009, while aggregate finance declined for the first time in about two decades, data released by the People's Bank of China showed Saturday.

M2 was lower than the 8.3% estimate, and the previous 8.3% read. M1 decreased by 1.4% y/y, compared to March's 1.1% print.

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China's M2 money supply slowed more than expected to 7.2% y/y, hitting a new low since the data was first recorded in 2009, while aggregate finance declined for the first time in about two decades, data released by the People's Bank of China showed Saturday.

M2 was lower than the 8.3% estimate, and the previous 8.3% read. M1 decreased by 1.4% y/y, compared to March's 1.1% print.

Keep reading...Show less