Mountainous apartments to nowhere drive Chinese growth

Monday 15 July 2019

Happy days are here again for Chinese growth! Q2 GDP is out and hit consensus at 6.2%:

There’s no mistaking that trend though is there?

Internals for June were all glowing with industrial production surging to 6.2% even as PMIs crashed and global supply chains ripped themselves out (LOL). The consumer just loved being shoved out of the global economy as well with retail launching to 9.8% (LOL). More to the point, the only measure that can be trusted, fixed asset investment (ie building empty apartments), rebounded to 5.8%:

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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.