Slow Train from China Back on Track
Slow Train from China Back on Track (YahooFinance.com)
November statistics for China’s performance point to an economy that is getting back on track. Retail sales, a critical gauge of economic performance, grew 13.7 percent in the month — the fastest growth since last December and far ahead of expectations. In addition, fixed asset investment also rose 19.9 percent in the first 11 months of the year, a significant improvement over last year’s figures, which were the worst in a decade. According to Tim Condon, Asian economist at ING in Singapore, “The economy is humming along and there is no need for growth upgrades or growth downgrades. They can focus on what they need to focus on, with no need to worry about growth stabilization policies.” Is this enough to get you to dip your beak back into China?