China has cut the number of economic statistics it publishes by more than 50%

<p>Since China's President Xi came to power in late 2012 China has reduced the number of economic statistics it publishes by more than 50%.</p><p>The most recent headline on this was China's decision <a href="https://www.forexlive.com/news/china-july-industrial-production-37-yy-expected-45-retail-sales-25-48-20230815/" target="_blank" rel="follow">to longer publish youth unemployment</a> rates:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-asia-pacific-fx-news-wrap-china-cuts-rates-data-disappoint-yuan-intervention-20230815/" target="_blank" rel="follow">This will not be because its improving</a></li><li><a href="https://www.forexlive.com/news/why-the-market-is-having-a-major-rethink-on-china-20230821/" target="_blank" rel="follow">Why the market is having a major rethink on China</a></li></ul><p>China has been, rightfully, criticised for this. </p><p>However, UBS adds, China is not alone, pointing the finger at the US:</p><ul><li>The US is not blameless either. Underfunding statistical agencies has contributed to a decline in US data quality—fewer than half the companies asked provide data for non-farm payrolls. With the biggest structural upheaval in 250 years, the inability to understand economies in real time is dangerous.</li></ul><p>UBS could point the finger at many other others on this issue also. </p><p>"Chop those stats!"</p>

This article was written by Eamonn Sheridan at www.forexlive.com.