Premier Wen Jiabao has declared that the effects of the world economic crisis on China have been "worse than expected".
Read »Premier Wen Jiabao has declared that the effects of the world economic crisis on China have been "worse than expected".
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Alex
7 weeks 2 days 23 hours 3 min agoArgh. Pet peeve: badly worded economic statistics.
"The growth in China's industrial output slowed to 8.2 per cent in October, compared to 11.4 per cent a month earlier. "
That sounds like monthly growth rates. Obviously it cannot be, that number is too high. Perhaps it's annualised monthly growth, or perhaps it's annual growth. In actuality this is a 12 month growth rate - a 3.2pp fall in one month, excluding a large base-effect, means growth in October was negative, which should be been mentioned in the article too, but isn't.