Chinese economy plods on to Japanification

Monday 21 October 2024

China’s Friday growth data was OK with Q3 GDP edging down to 4.6% yoy in Q3 from +4.7.

For September, industrial production rose 5.4%, fixed asset investment 3.4% yoy in September and retail sales 3.2%, in part thanks to cash-for-clunkers stimmies.

However, the headline data as usual disguised deep weakness.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.