November 11, 2013 / 8:15 AM / 6 years ago

China October new bank loans below forecast

BEIJING, Nov 11 (Reuters) - Chinese banks made 506.1 billion yuan ($83.10 billion) worth of new yuan loans in October, lower than a forecast of 600 billion yuan and below the previous month’s 787 billion, central bank data showed on Monday.

The broad M2 money supply rose 14.3 percent last month from a year earlier, the People’s Bank of China said in a statement on its website, www.pbc.gov.cn, in line with the forecast in a Reuters poll of a 14.3 percent rise.

Outstanding yuan loans rose 14.2 percent from a year earlier versus forecasts for growth of 14.3 percent.

The central bank also said China’s total social financing aggregate, a broad measure of liquidity in the economy, was 856.4 billion yuan in October versus 1.4 trillion yuan the month before. ($1 = 6.0905 Chinese yuan) (China economics team)

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