We pointed out just before China’s third quarter GDP figures were released that there is much strangeness around its quarterly growth data![ext]()
generally*. While most countries release an annualised, seasonally-adjusted quarter-on-quarter figure, China publishes a year-on-year figure and, only since 2011, a seasonally-adjusted but unannualised quarter-on-quarter figure.
This causes three problems:
- the headline number is not directly comparable with most other countries’ quarterly GDP figures.
- when a comparable number is generated (ie, when QoQ is annualised), the Q1 & Q2 2012 are FAR below the headline YoY numbers… the most striking example being 6.6% for the first quarter of 2012.
Continue reading: China’s strange quarterly GDP revisions could actually be good in YoY terms![ext]()
Reported by FT.com 49 minutes ago.
generally*. While most countries release an annualised, seasonally-adjusted quarter-on-quarter figure, China publishes a year-on-year figure and, only since 2011, a seasonally-adjusted but unannualised quarter-on-quarter figure.This causes three problems:
- the headline number is not directly comparable with most other countries’ quarterly GDP figures.
- when a comparable number is generated (ie, when QoQ is annualised), the Q1 & Q2 2012 are FAR below the headline YoY numbers… the most striking example being 6.6% for the first quarter of 2012.
Continue reading: China’s strange quarterly GDP revisions could actually be good in YoY terms
Reported by FT.com 49 minutes ago.