The economy of China grew by 6.7% in Q3 2016. It would not be so surprising, but even more comforting, if China had not accounted exactly the same data in the previous quarter, and in the three months before
This unusual sequence causes the contempt of many critics of China who have long argued that the country fakes its economy data. The China’s economy expanded by a similar growth quarter after quarter, in many cases, but never before Beijing claimed that grow at exactly the same rate for three consecutive quarters.
Whether it has happened elsewhere? This same growth actually is not exactly unprecedented. Seven other countries were reporting the same growth rate for three consecutive quarter periods, according to a database covering 83 countries. The list includes emerging economies like Brazil, Croatia, Indonesia, Malaysia and Vietnam, but two developed: Austria and Spain. Spain even counting such “miracle” twice. Its economy was growing by 3.1% yoy in the first three quarters of 2003 and by 4.2% in the first three quarters of 2006
Contrary to popular belief statistics on gross domestic product (GDP) of China has always walked so smoothly. Since 1993, the average difference of growth between two successive quarters was (plus or minus) 0.77 percentage points. Another 14 countries including the US, reported a smaller mean difference.
In recent years, uneven the direction of China’s growth is less pronounced. Since 2012, only France and Jordan enjoy more stable growth, Indonesia has reported less average difference between two consecutive quarters.
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