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China's Credit Expansion Rebounds in May After April Contraction
New lending in China rose more than analysts had forecast last month. The increase followed a rare decline recorded in April.
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China's credit expansion rebounded in May after a contraction the previous month, according to data released this week. The figures showed total new loans and other credit extended by banks exceeded expectations. Officials had projected a modest recovery following the April drop.
April marked the first monthly contraction in aggregate financing in several years. The decline raised questions about demand for credit among households and businesses. May data indicated a return to positive growth, with the pace still below levels seen earlier in the year.
The rebound occurred as authorities maintained existing policy settings. Further monthly readings will show whether the May increase represents a sustained turnaround or a temporary fluctuation.
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