China Export Surge Spurs Data Skepticism/Bloomberg
'China’s unexpected surge in exports last month renewed concern from analysts at Goldman Sachs Group Inc., UBS AG and Australia & New Zealand Banking Group Ltd. (ANZ) that statistics from the nation can be unreliable.
The 14.1 percent jump from a year earlier was the biggest positive surprise since March 2011, according to data compiled by Bloomberg. The increase didn’t match goods movements through ports and imports by trading partners according to UBS, while Goldman Sachs and Mizuho Securities Asia Ltd. cited a divergence from overseas orders in a manufacturing index'
'After China’s statistics bureau reported third-quarter GDP in October, Standard Chartered Plc analysts said the 7.4 percent increase was “too good to be true” when compared with the slowdown in electricity production and the readings of a manufacturing index, while London-based Capital Economics Ltd. said its own analysis indicated expansion of about 6.5 percent'
China wouldn't lie to the world would they...hehehe.
OK, folks. You gotta remember one thing. Chinese data always surges in January and drops in February dramatically. You all forget that it is THEIR NEW YEAR 1 Feb and these folks celebrate it all on an huge scale. Unlike in the States, where we take a couple of days off, they take two whole weeks off and go around the country traveling and celebrating. It is the largest human migration in history with HUNDREDS OF MILLIONS carrening and frolicking about.
The Great Party of the People, in their infinite wisdom, most adequately provide for this all by stocking up and surging production beforehand. So not to worry, when figures come out in February they will have plummented as the hard working customs workers too will have been off and about. It will all even out. Not to worry!