Chinese economy cannot be measured or analyzed as US does. In 2021, Chinese government statistics bureau retracted data more and more data from public access. In October 17, 2022, China National Bureau of Statistics canceled the release of quarterly gross domestic product data without any prior notice. Until now, there was no official explanation.
Even before this dramatic blunt move of Chinese government officials, there was prevailing estimation that Chinese economic activities must have been low due to Covid-zero policy and lock-downs (Xie, 2022, October 18).
The Wall Street Journal this morning, Wednesday October 18, sent out the real time economics newsletter where the journal got a peek inside China by asking SpaceKnow. The SpaceKnow monitors and analyzes global activities around warehouses, factories, shopping centers, refineries and other economic hubs. Particularly cement production in China seems lower than the average level in 2019 (SpaceKnow, 2022).
China’s GDP rose 3.9% in the third quarter from a year earlier, up from 0.4% in the second quarter and higher than the median estimate of 3.3% in a Bloomberg survey of economists (Bloomberg, October 23).~updated in Oct 25.