China Growth Back On Track
Data from The Conference Board show that China’s growth has been rekindled, albeit modestly. “The Conference Board Leading Economic Index for China increased 0.5 percent in May to 155.0 (2004 = 100), following a 0.1 percent increase in April and…
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The six components of The Conference Board Leading Economic Index for China include:
Total Loans Issued by Financial Institutions (source: People’s Bank of China)
5000 Industry Enterprises Diffusion Index: Raw Materials Supply Index (source: People’s Bank of China)
NBS Manufacturing PMI Sub-Indices: PMI Supplier Deliveries (source: National Bureau of Statistics)
Consumer Expectations Index (source: National Bureau of Statistics)
Total Floor Space Started (source: National Bureau of Statistics)
NBS Manufacturing PMI Sub-Indices: Export Orders (source: National Bureau of Statistics)
The one set of data does not mean enough to say whether it is a sign of a growth is inflation. Economists will have to wait for PMI and direct inflation data to tell that.
Douglas A. McIntyre
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