China Credit Demand Weakens in Fresh Sign of Waning Recovery

(Bloomberg) — China’s credit demand weakened in May as the economy’s recovery lost steam, adding to reasons for the central bank to expand stimulus to spur growth.

Aggregate financing, a broad measure of credit, was 1.6 trillion yuan ($224 billion) in May, the People’s Bank of China(PBOC) said Tuesday, lower than the median estimate of 1.9 trillion yuan in a Bloomberg survey of economists.