Bloomberg Intelligence Chief Asia Economist Tom Orlik has compiled six proxies for Chinese economic growth
The bad news for China is ...
- "All of the proxies suggest growth in 2015 has been lower than the 6.9 percent reported by the National Bureau of Statistics for the third quarter"
I know. Surprise ...
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For example ... Barclays:
Uses a blend of high-frequency indicators on activity, such as railway freight, official data, and purchasing managers' indexes, which are survey-based metrics.
"The rising role of the services sector is captured by the inclusion of the services PMI and retail sales, but the weight and explaining power of the framework still tilt toward the industrial sector-reflecting data availability," wrote chief China economist Jian Chang.
Barclays estimates that the Chinese economy grew 5.5 percent in the first half of the year, 1.5 percentage points below the official statistics.
