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MNI BRIEF: China July M1 Hits Record Low On Weak Demand

MNI (BEIJING) - China's M1 money supply contracted for a fourth consecutive month in July, falling by 6.6% y/y to a record low, as company investment and consumer spending continued to weaken amid a property downturn, People's Bank of China data showed on Tuesday.

Growth in the M2 measure quickened to 6.3%, after decelerating for 18 months, rising from June’s 6.2% growth and beating the 6.0% forecast. 

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MNI (BEIJING) - China's M1 money supply contracted for a fourth consecutive month in July, falling by 6.6% y/y to a record low, as company investment and consumer spending continued to weaken amid a property downturn, People's Bank of China data showed on Tuesday.

Growth in the M2 measure quickened to 6.3%, after decelerating for 18 months, rising from June’s 6.2% growth and beating the 6.0% forecast. 

Keep reading...Show less