SPY•China's new yuan loans contracted by 100 billion yuan ($14.99 billion) in October, the third contraction this year. Analysts had expected 20 billion yuan in new loans, versus 220 billion yuan a year earlier and 1.08 trillion yuan in September.
China's new yuan loans shrank by 100 billion yuan ($14.99 billion) in October, marking the third contraction this year after April and July. Businesses and consumers showed weak appetite for borrowing.
Analysts had expected October new yuan loans to reach 20 billion yuan, compared with 220 billion yuan a year earlier and 1.08 trillion yuan in September. The central bank does not provide monthly breakdowns; the October figure was calculated from its January-October data compared with January-September data.
