The New Chinese 'Beige Book' Sees Growth Picking Up

China's luxury market

Photo: Bomoda

Official Chinese economic data have a reputation for being unreliable.According to the Wall Street Journal’s Real Time Economics blog, a new survey is using the same methods as the Federal Reserve to get a more accurate view of the conditions on the ground.

It’s called “The China Beige Book” after the Federal Reserve survey that collects anecdotes from regions across the country.

Every quarter, CBB International interviews 140 C-suite executives and surveys nearly 1800 senior executives across 8 Chinese regions and  8 key industries.

The survey ‘s website cites the fact that its survey data is entirely proprietary as unique advantage over official sources. They hope to provide a snapshot of real time conditions in the economy. 

The survey’s director of research Craig Charney told the Wall Street Journal that the most recent survey described a rebound in growth propelled by retail sales as overcoming lags in mining and export driven sectors. 

The report cited government stimulus beyond publicized monetary easing, including efforts to boost consumer spending.

Read more about it at WSJ.com.

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