Yuan Slides After China Jobless Rate Spikes, Industrial Production Growth Tumbles
After January’s record surge, February saw China’s credit growth unexpectedly collapse prompting notable downgrades in expectations for tonight’s macro data bonanza.
Chinese central bank reported that in February, aggregate financing increased by a paltry 703 billion yuan, roughly half the expected 1.3 trillion…
… and the lowest print on record in the recently revised series. Additionally, growth in China’s broad money supply, or M2, once again slumped and after a modest rebound in January, in February M2 Y/Y growth