weak China data is in........... again

Here are the stats from Morning Post...

quote:

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Industrial production, which measures China’s industrial output, including manufacturing, mining and utilities, grew at 4.4 per cent last month, down from 4.8 per cent in July, which in itself was the lowest rate since February 2002. This was well below a poll of analysts taken by Bloomberg that had expected growth of 5.2 per cent.

A batch of data released by the National Bureau of Statistics (NBS) on Monday also showed that retail sales, a key metric of consumption in the world’s most populous nation, grew by 7.5 per cent, also below analysts’ forecasts of 7.9 per cent expansion. This was a slight decline on July’s 7.6 per cent growth and the lowest figure since April.

Fixed asset investment, the level of spend on physical assets, including real estate and infrastructure, grew by 5.5 per cent in the first eight months of 2019. This was down from 5.7 per cent in July, and – again – below analysts’ expectations. The Bloomberg poll had forecast no change. This was the lowest growth in fixed asset investment since August 2018, when it was 5.3 per cent.

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You note this is their data, the infamous "National Bureau of Statistics". The only reliable data we have is measured externally: exports, which are declining each month now, and imports which have declined every month this year save one. So pray tell, how can production and consumption be increasing? Are they making widgets out of thin air, or are they making statistics out of thin air?

The one thing we do know, when their own govt is delivering bad news, the real news must be REAL bad news.

quote:

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Chinese Premier Li Keqiang warned that the economy is facing “certain downward pressure” due to global slowdown and rise of protectionism. And, it’s “very difficult” for GDP to grow at 6% rate or higher. He said “for China to maintain growth of 6% or more is very difficult against the current backdrop of a complicated international situation and a relatively high base, and this rate is at the forefront of the world’s leading economies.”

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I guess even they dont believe their lies anymore. Perhaps they could hire some of those climate alarmists to do some bogus charts for them???