China Credit Gauge Plunges as Industrial-Output Growth Slows

China’s broadest measure of new credit plunged to the lowest since the global financial crisis and industrial output unexpectedly slowed, adding risks to growth as the government grapples with a property slump.

Aggregate financing was 273.1 billion yuan ($44.3 billion) in July, the central bank said today in Beijing, contrasting with a Bloomberg LP gauge that showed China loosened monetary conditions last quarter at the fastest pace in almost two years. Factory production rose 9 percent from a year earlier and fixed-asset investment growth weakened, figures from the statistics bureau showed.