Don’t trust China’s numbers, but don’t doubt the rebound

Few will be surprised by the suggestion on the front page of today’s FT that China’s growth figures don’t add up. We created our China Activity Proxy (CAP) in an attempt to sidestep scepticism about the official data. It suggests that the recent pace of growth has been slower than the official figures show. Perhaps more importantly though, it supports the belief that a strong recovery is underway.

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