Apr 23, 2024 04:37 AM
ECONOMY
China’s Macro Leverage Ratio Rises to 294.8% Despite Slower Borrowing
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China’s first quarter nominal GDP, unadjusted for inflation, expanded 4.2% in the first quarter and was considerably below the real growth rate of 5.3%
China’s overall debt ratio continued to climb in the first quarter to 294.8% despite slower growth in debts, indicating a weaker expansion of the economy, according to a state-backed think tank.
The macro leverage ratio, which measures total outstanding nonfinancial debt as a share of nominal GDP, inched up another 6.8 percentage points after reaching a record 287.8% at the end of 2023, data from the National Institution for Finance and Development (NIFD) showed.
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