.
7/4/13, "China 'Officially' Moves From Made-Up Data To Hiding Data," Zero Hedge
"When the official Chinese PMI printed a few days ago we noted the 'odd' fact that several of the key sub-indices were 'missing'.
While most put this down to some 'hiccup' or aberration, we wondered at
the time what this might mean in a nation that has seemingly gone out
of its way to baffle with Schrodinger bullshit for much of the last few
'recovery' years in the face of collapsing electricity production,
copper/cement/steel prices, fake trade invoices, and a shadow-banking
system so re-hypothecated that even the PBOC has decided enough is
enough. Well, as Bloomberg reports, it turns out it wasn't an aberration, but new policy from
China's Federation of Logistics and Purchasing which has now officially
suspended the release of industry-specific data from the monthly survey
of manufacturers. As one analyst put it, "the random absence of official data is disorienting," which is likely exactly the plan.
Via Bloomberg."...
7/5/13, "China Suspends PMI Details in New Hurdle for Analysis: Economy," Bloomberg
.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment