Terrifying Charts Show China’s Economy Remains Completely Paralyzed

In our ongoing attempts to glean some objective insight into what is actually happening “on the ground” in the notoriously opaque China, whose economy has been hammered by the Coronavirus epidemic, last week we showed several “alternative” economic indicators such as real-time measurements of air pollution (a proxy for industrial output), daily coal consumption (a proxy for electricity usage and manufacturing) and traffic congestion levels (a proxy for commerce and mobility), before concluding that China’s economy appears to have ground to a halt. These observations were subsequently reaffirmed when we showed that steel demand, property sales, and passenger traffic had all failed to rebound from the “dead zone” hit during China’s Lunar New Year hibernation.

Meanwhile, as every investor scrambles for clues to find the upward inflection point in China’s economic output which would at least partially validated the unbridled euphoria in the stock – and, ironically, the bond market – we have some unpleasant news: more than one week after our initial report on “alternative” high-frequency (read daily) indicators in China’s economy, any tangible improvement in China’s economy has yet to be observed….

https://www.zerohedge.com/economics/terrifying-charts-show-chinas-economy-remains-completely-paralyzed

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