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Monday, October 19, 2015

Q3 2015 CHINA GDP. IT'S UP FROM THE LAST QUARTER, BUT DOWN STILL YEAR-OVER-YEAR.

Lawgivers of various countries make it a challenge to get hold of data. The Chinese in power are no different.

According to the minions at the National Bureau of Statistics of China who reported on October 19, 2015,

Overall Economic Development was Stable in the First Three Quarters of 2015
According to the preliminary estimation, the gross domestic product (GDP) of China in the first three quarters of this year was 48,777.4 billion yuan, a year-on-year increase of 6.9 percent at comparable prices.
The minions have yet to update their data tables, so that 48,777.4 billion yuan needs to be fixed to strip out quarterly data.

In True Dollars™, which is the only way you can understand commercial reality of currencies and floating exchange rates, third quarter true GDP for the Chinese looks like it has grown 1.3%, quarter-over-quarter. That said, in spite of the Chinese propaganda of a year-on-year increase of 6.9%, true GDP year-over-year is down three-tenths of a percent.