Publishers of the China Minxin purchasing managers index said they will stop updating the gauge of manufacturing to make a “major adjustment” to their calculations, dealing a second setback in recent months to investors looking for an early read on the economy.
Release of the unofficial purchasing managers index jointly compiled by China Minsheng Banking Corp. and the China Academy of New Supply-side Economics will be suspended starting this month, the Beijing-based academy said in an e-mailed statement Monday, about six hours before the latest monthly data were scheduled for release.
Six hours, I guess they found some big mistakes in the number really late. The article is here.
For pointers I thank Christopher Balding and Chris Anstey.
Some strange zen koans today, see above.
Maybe some real numbers were about to get out. Can’t have that.
“China Academy of New Supply-side Economics” – one hopes that is a bad translation
+1
They probably looked at the numbers and decided that if they published the truth they would be charged with economic sabotage and go to jail for the rest of their lives (or worse).
Fun note: nearly all official China data is (officially!) deemed not comparable to earlier periods.
Those inscrutable Chinese!
Seen on Facebook: “Don’t grow up. It’s a trap!”