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MNI BRIEF: China Oct M2 Rises To Seven-Month High

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MNI (BEIJING)

China's M2 money supply growth quickened more than expected in October, as deposits increased thanks to the robust stock market following the Government-announced pro-growth policies, People's Bank of China data released Monday showed.

Growth in M2 was 7.5% y/y, a seven-month high, up from September's 6.8% growth and beating the 7.0% forecast. M1 continued to contract, falling for a seventh straight month in October, though with the decline narrowing to -6.1% from the previous record-low of -7.4%.

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MNI (BEIJING)

China's M2 money supply growth quickened more than expected in October, as deposits increased thanks to the robust stock market following the Government-announced pro-growth policies, People's Bank of China data released Monday showed.

Growth in M2 was 7.5% y/y, a seven-month high, up from September's 6.8% growth and beating the 7.0% forecast. M1 continued to contract, falling for a seventh straight month in October, though with the decline narrowing to -6.1% from the previous record-low of -7.4%.

Keep reading...Show less