Bloomberg reports:
China’s growth accelerated to the fastest pace since 2007 in the fourth quarter, capping Premier Wen Jiabao’s success in shielding the nation from the global recession and adding pressure to rein in a surge in credit.
Gross domestic product rose 10.7 percent from a year before, more than the median forecast of 10.5 percent in a Bloomberg News survey, a statistics bureau report showed in Beijing today. Asset-price gains, particularly in property, are creating problems for the government to guide the economy, Ma Jiantang, who heads the bureau, told reporters after the release.
Source: Haver
Every chart of China GDP that I see is always presented this way - year-over-year growth rates. Why is that? Why not present actual GDP levels? Also, it's not clear to me from the news stories whether the the reported growth rates are comparing (x) 4Q09 to 4Q08, 3Q09 to 3Q08, etc.; (y) rolling 12 months to rolling 12 months; or (z) full year to full year, first three quarters to first three quarters, first half to first half and first quarter to first quarter. Does anybody know?
ReplyDeleteGrip it and rip it? Is Jake a disc golfer?
ReplyDeleteNewCreature
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Greg- this is how China releases the data (it is Q4 '09 vs. Q3 '09). Last year it was rumored that GDP QoQ was negative for a brief period, but China wouldn't verify.
ReplyDeleteNewCreature... not a disc golfer (though it looks fun). I had no idea this was a disc golf reference. It's actually related to a story from waaaayyyy back involving a friend, a friend's sister, and a lot of booze. I'll leave it at that.