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Title : It Looks Like China's Housing Bubble Has Just Burst
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It Looks Like China's Housing Bubble Has Just Burst

Zero Hedge: Beijing Lets One Slip: Obscure Data Suggests China Housing Bubble Has Burst

As far back as 2013, China's macro-economic data has been 'questionably' smoothed at best, and outright fake at worst. Whether it is trade data ("never been faker" than in 2016) or aggregate production (2018's massive GDP distortions), as economist Nouriel Roubini once asserted, China just makes its numbers up.

And, as we pointed out earlier this week, this month was no exception, when following China GDP's dramatic slowing to just 6.2% YoY - the slowest since record began - there was a delightful surprise to appease those who are wondering whether record credit injections and more easing measures than during the financial crisis had any effect at all. To wit, China retail sales and industrial production rebounded handsomely with the former spiking 9.8% YoY - the most since March 2018.

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WNU Editor: Some of my best contacts in China are in the construction industry, and they have been telling me since the beginning of this year that they have not seen business as bad as it is now. Does this mean that the Chinese housing bubble has burst? My gut is telling me yes. There is also one thing that I am very sure about, and that is President Trump and his trade negotiators are probably well aware of this, and are using this data as leverage against the Chinese.

Zero Hedge: Beijing Lets One Slip: Obscure Data Suggests China Housing Bubble Has Burst

As far back as 2013, China's macro-economic data has been 'questionably' smoothed at best, and outright fake at worst. Whether it is trade data ("never been faker" than in 2016) or aggregate production (2018's massive GDP distortions), as economist Nouriel Roubini once asserted, China just makes its numbers up.

And, as we pointed out earlier this week, this month was no

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exception, when following China GDP's dramatic slowing to just 6.2% YoY - the slowest since record began - there was a delightful surprise to appease those who are wondering whether record credit injections and more easing measures than during the financial crisis had any effect at all. To wit, China retail sales and industrial production rebounded handsomely with the former spiking 9.8% YoY - the most since March 2018.

Read more ....

WNU Editor: Some of my best contacts in China are in the construction industry, and they have been telling me since the beginning of this year that they have not seen business as bad as it is now. Does this mean that the Chinese housing bubble has burst? My gut is telling me yes. There is also one thing that I am very sure about, and that is President Trump and his trade negotiators are probably well aware of this, and are using this data as leverage against the Chinese.

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