Shiloh
Editor, Senior Moderator
Source: https://dnyuz.com/2022/10/17/china-...lease-of-g-d-p-and-other-economic-statistics/
China Delays Indefinitely the Release of G.D.P. and Other Economic Statistics
October 17, 2022
China, the world’s second-largest economy, announced without explanation on Monday that it was delaying indefinitely the release of economic data that had been scheduled for Tuesday morning, including closely watched numbers for economic growth from July through September, which had been expected to show continued lackluster performance.
The delay by China’s National Bureau of Statistics, which analysts said was highly unusual, comes as the country’s ruling elite gather in Beijing for a weeklong, twice-a-decade national congress of the Communist Party. The authorities have taken elaborate measures to prevent any disruptions during the gathering, from halting almost all travel into Beijing to requiring frequent Covid-19 tests across practically the entire country.
The postponement of the report drew speculation that the data might have been worse than officials expected. Western economists had been predicting that China would announce that the economy grew a little more than 3 percent in the third quarter compared with last year. That would be better than the growth of just 0.4 percent in the second quarter, when a two-month pandemic lockdown in Shanghai severely depressed many industries’ output.
But it would still be far below the target that Beijing set in March, aiming for growth of “about 5.5 percent” this year...
China Delays Indefinitely the Release of G.D.P. and Other Economic Statistics
October 17, 2022
China, the world’s second-largest economy, announced without explanation on Monday that it was delaying indefinitely the release of economic data that had been scheduled for Tuesday morning, including closely watched numbers for economic growth from July through September, which had been expected to show continued lackluster performance.
The delay by China’s National Bureau of Statistics, which analysts said was highly unusual, comes as the country’s ruling elite gather in Beijing for a weeklong, twice-a-decade national congress of the Communist Party. The authorities have taken elaborate measures to prevent any disruptions during the gathering, from halting almost all travel into Beijing to requiring frequent Covid-19 tests across practically the entire country.
The postponement of the report drew speculation that the data might have been worse than officials expected. Western economists had been predicting that China would announce that the economy grew a little more than 3 percent in the third quarter compared with last year. That would be better than the growth of just 0.4 percent in the second quarter, when a two-month pandemic lockdown in Shanghai severely depressed many industries’ output.
But it would still be far below the target that Beijing set in March, aiming for growth of “about 5.5 percent” this year...