So ends a banner year for empty Chinese apartments

Friday, 17 January 2020

Chinese growth numbers for December are out and it’s more of the same massive capital misallocation. First up, GDP came in at 6% for the December quarter and 6.1% for the year:

December growth internals bounced with industrial production at 6.9%, retail at 8% and fixed asset investment 5.4%:

The all important FAI was led by public spending, with value-added sectors sagging as the trade war hit:

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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.