China Lending Tumbles, Signals Slowing Economy

14 Jun

From Bloomberg:

China’s lending tumbled in May and money supply grew at the slowest pace since 2008, adding to signs that the world’s second-biggest economy is cooling.

“This provides another data point highlighting the growth risk,” said Tao Dong, a Hong Kong-based economist for Credit Suisse Group AG. “I think the economy is heading to a soft landing in the second half of 2011, but the risk of a hard landing seems to be on the rise,” Tao said, adding that small companies are short of credit.

A moderating expansion in the Chinese economy is adding to concerns that global growth is faltering.

How’s that promised single year of budget “surplus” in 2013 looking, Wayne?

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2 Responses to “China Lending Tumbles, Signals Slowing Economy”

  1. Whacked June 14, 2011 at 9:21 am #

    The powers that be will turn the taps on again.
    They cannot afford to allow matters to stall.
    They have zero rates, just write off bad debts (which they can do easily) and allow Banks to recover over time. 1999 all over again.

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