China's credit growth slowed sharply in February, consumer loans hit the lowest on record

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China’s credit growth slowed sharply in February as the coronavirus outbreak brought the economy to a standstill. Short-term consumer loans hit the lowest on record as the people cut spending during the epidemic.

Chinese banks extended 905.7 billion yuan in new yuan loans in February, down from a record 3.34 trillion yuan in January and missing analyst expectations, according to data released by the People’s Bank of China (PBOC) on Wednesday.

Economic activity in most of the country was curtailed by the shutdowns and quarantines, with some economists forecasting a . . .

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