China’s leading indicators rise

The Conference Board Leading Indicators for China were out today and the news is a rising trend. There is also this from the good news media:

China’s trade ministry sought to dispel worries about slowing economic growth on Tuesday by saying exports are likely to pick up in coming months and the country can meet its 10 per cent exports growth target for 2012.

Shen Danyang, a spokesman at China’s Commerce Ministry, said anecdotal evidence suggested Chinese export and import growth in looked as good in June as it did in May, when trade shipments were more than double market forecasts.

Which adds to the evidence presented yesterday that Chinese outbound shipping rates are showing strength.

David Llewellyn-Smith
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    • “… there is more than a single rule of thumb circulating within officialdom for getting a fix on what is going on in the vast, seething mass that is the China’s continental scale economy. Premier-in-waiting Li Keqiang’s preference is for a balanced viewing of electricity production, credit and rail freight. Others prefer a ratio/premium approach to get from monthly industrial production growth to GDP. There are those who track instead the heavy industrial staples like steel and cement. And there are some who are content to peddle distrust about the veracity of the underlying data without discrimination, regardless of the fact that “Chinese data” is farfrom a homogeneous entity: its quality, reliability and inherent“trustworthiness” varies widely by series…”

      From Phat Dragon today.

  1. Who the hell are they exporting to that can drive 10 percent growth? Mars?

    There are a few possibilities here:

    1. China is growing its exports by taking market share away from other exporters.

    2. China is expanding into the Martian market.

    3. The Chinese authorities are fudging the numbers.