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China Beige Book Says Economy Is Better Than Official Data Show

  • Government statistics are seen undercounting retail spending
  • Steel firms said conditions fell hard in every category: CBB
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A new report says China’s economy may be performing better than official data show. Bloomberg’s Charlie Zhu reports.(Source: Bloomberg)

The picture of China’s economy slowing in the second quarter is misleading, or even inaccurate, with retail sales and investment actually stronger than the official data show, according to the China Beige Book.

“The retail sector may be seeing a turn higher, with profit and investment growth improving,” CBB said in a report, adding that slowing seen in official data in May reflects not the current situation but weakness seen earlier this year and late last year. “The sector may already be emerging from the troubles Beijing is just now introducing publicly.”