Find below the Conference Board’s Leading Index for China in December, up by a point, slowing its recent acceleration path:
This index is not bad. Note its constitution, which is a reflection of growth inputs into the Chinese economy: consumer, finance, raw materials, supply chain, exports and construction.
Compare it to the Westpac version which has ceased to function and is made up of: money supply, dwelling approvals, U. S. industrial output, manufacturing prices, overtime worked, productivity and gross operating surplus.
I mean come on, no mining or commodity price input? US IP should be Chinese IP, it needs lending data not money supply in this disleveraging era, dwelling, manufacturing and productivity should stay, but drop the GOS and add national income.
Need a houses and holes index if its going to tell you anything.
Interesting read http://english.caixin.com/2013-01-21/100484689.html
A little one sided! But I agree with the sentiment that i/o prices are “elusive and hard to judge”.
Keeps the market on its toes.
Well known but a clear re-commitment to policy and a reminder of the importance of the steel sector to China. This is a sector unlikely to be ‘allowed’ to fail.
http://www.reuters.com/article/2013/01/22/us-china-steel-capacity-idUSBRE90L07920130122
You look a little concerned. Rushing in with your excuses and diverting attention with another story.
Perhaps Caixin hit close to home…
that is outrageous speculation…on your behalf
As Lorax realised somewhat belatedly today
China produces a lot of steel – here is another infrastructure announcement that both provides demand for the steel sector and improved transport links throughout the nation, it may have escaped attention here.
http://www.globaltimes.cn/content/756699.shtml
Is China producing steel for compound incremental real economic growth or as a ‘hard asset’ security on principle + interest compound loans
GMO has a good take on this
Chinese steel manufacturers are also cornering the pork, wine and vegetable markets. Wuhan built a facility to hold 10,000 pigs.
http://www.ft.com/intl/cms/s/0/dcc63a9a-6d78-11e1-ab1a-00144feab49a.html#axzz2IugFCEi6
http://www.chinadaily.com.cn/china/2012-03/07/content_14782277.htm