The Elephant Dragon In The Room: China’s Hard Landing, In 21 Charts | Zero Hedge.
Back in September, before the crude crash started in earnest driven far more by the relentless Chinese – and global – economic slowdown than anything OPEC may or may not have done (and whose output, as a reminder, hasn’t changed in years and actually declined, indicating the plunge is demand not supply driven) we showed, with the help of a few clear charts, that China is gripped by the worst commodity, and economic, crash in ages.
Today we update where China stands on its path to a very hard landing. As the charts below show, what has been so far a controlled descent is rapidly sliding out of control.
China’s NBS manufacturing PMI at 50.1 in December, down from 50.3 in November, the lowest in one and a half years.
Industrial production (IP) growth declined to 7.2% yoy in November from 7.7% yoy in October. Growth in power production decelerated to 0.6% yoy in November from 1.9% in October.
