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Welcome to 2019, where industrial profits has gone below zero🥶 except for 🍻& 🥤in China.
Q: If industrial profits fall -27% YoY & every sector is CONTRACTING, wut's next?
🤔
Btw, Chinese onshore investors are smarter than offshore b/c they're on this case & sold as u bought
Q: If industrial profits fall -27% YoY & every sector is CONTRACTING, wut's next?
🤔
Btw, Chinese onshore investors are smarter than offshore b/c they're on this case & sold as u bought
This is wut 👇🏻I mean when I say onshore investors are more clued-in (btw, when I looked at industrial profits level & %YoY discrepancy a while ago & wondered🤔, didn't see it in international news & offshore research but read onshore notes🤓)
Chart 👇🏻 SHCOMP & industrial profits
Chart 👇🏻 SHCOMP & industrial profits
FEW PEOPLE go & look at the data & it only takes scratching beneath the surface (& by this I mean very gentle scratching of computing the thing urself vs taking wutever u're told) & u'll see that things are:
WORSE.
NBS gives us the data but if u read the news/reports, few calc
WORSE.
NBS gives us the data but if u read the news/reports, few calc
Want to see something cute? Same for retail sales - the level %YoY & the given %YoY don't match. But I think in this case, the adjustment is to "smooth" the data & less intense than the "quality" control of industrial profits.
The level suggests that %YoY is around 3.3% not 8.2%
The level suggests that %YoY is around 3.3% not 8.2%
