Jefferies: China's Apr Credit Growth Momentum Further Slows
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Jefferies reported that China's credit growth slowed to 7.8% YoY in April, impacted by weak mortgage demand and subdued corporate borrowing, despite strong government borrowing. The manufacturing PMI rose to 51.3, indicating expansion driven by exports. Overall, China's economic performance remains weak, with early signs of recovery, but significant demand growth acceleration is not expected soon. A US-China trade agreement and reduced US-Iran tensions could help.
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