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MNI BRIEF: China Aug M1 Drops Further To Hit Record Low

MNI (Singapore)
MNI (BEIJING)
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China's M1 money supply contracted for a fifth consecutive month in August, falling by 7.3% y/y to a record low, as corporate demand deposits continue to decrease amid an ongoing property downturn, People's Bank of China data released Friday showed.

Growth in the M2 measure was 6.3%, unchanged from July's 6.3% growth and beating the 6.2% forecast.

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China's M1 money supply contracted for a fifth consecutive month in August, falling by 7.3% y/y to a record low, as corporate demand deposits continue to decrease amid an ongoing property downturn, People's Bank of China data released Friday showed.

Growth in the M2 measure was 6.3%, unchanged from July's 6.3% growth and beating the 6.2% forecast.

Keep reading...Show less