India's GDP Data Cannot Be Trusted: Nobel Prize Winner Angus Deaton

[tranquilium]

chinese data is the best.

Yes, and US federal reserve agrees.

Federal Reserve Bank of San Francisco | Research, Economic Research, China, Economic Growth, GDP, Gross Domestic Product, Chinese Economy

I will just post the conclusion section:

"Conclusion


We found that reported Chinese output data are systematically related to alternative indicators of Chinese economic activity. These include alternative indicator indexes of Chinese activity composed of variables that are less susceptible to official manipulation, as well as externally reported trade volume measures. Importantly, these models suggest that Chinese growth has been in the ballpark of what official data have reported. We find no evidence that recently reported Chinese GDP figures are less reliable than usual.

John Fernald is a senior research advisor in the Economic Research Department of the Federal Reserve Bank of San Francisco.

Israel Malkin is a research associate in the Economic Research Department of the Federal Reserve Bank of San Francisco.

Mark Spiegel is a vice president in the Economic Research Department of the Federal Reserve Bank of San Francisco.

References

Bradsher, Keith. 2012. "China Data Mask Depth of Slowdown, Executives Say.” New York Times, June 22.

Holz, Carsten A. 2008. "China’s 2004 Economic Census and 2006 Benchmark Revision of GDP Statistics: More Questions than Answers?" The China Quarterly, March.

Wikileaks. 2007. “Fifth Generation Star Li Keqiang Discusses Domestic Challenges, Trade Relations with Ambassador.” Cable, March 15. Cable: 07BEIJING1760_a

Pacific Basin Notes are published occasionally by the Center for Pacific Basin Studies. Opinions expressed in FRBSF Economic Letter do not necessarily reflect the views of the management of the Federal Reserve Bank of San Francisco or of the Board of Governors of the Federal Reserve System. This publication is edited by Sam Zuckerman and Anita Todd. Permission to reprint must be obtained in writing.
"

 

[RisingShiningSuperpower]

Yes, and US federal reserve agrees.

Federal Reserve Bank of San Francisco | Research, Economic Research, China, Economic Growth, GDP, Gross Domestic Product, Chinese Economy

I will just post the conclusion section:

"Conclusion


We found that reported Chinese output data are systematically related to alternative indicators of Chinese economic activity. These include alternative indicator indexes of Chinese activity composed of variables that are less susceptible to official manipulation, as well as externally reported trade volume measures. Importantly, these models suggest that Chinese growth has been in the ballpark of what official data have reported. We find no evidence that recently reported Chinese GDP figures are less reliable than usual.

John Fernald is a senior research advisor in the Economic Research Department of the Federal Reserve Bank of San Francisco.

Israel Malkin is a research associate in the Economic Research Department of the Federal Reserve Bank of San Francisco.

Mark Spiegel is a vice president in the Economic Research Department of the Federal Reserve Bank of San Francisco.

References

Bradsher, Keith. 2012. "China Data Mask Depth of Slowdown, Executives Say.” New York Times, June 22.

Holz, Carsten A. 2008. "China’s 2004 Economic Census and 2006 Benchmark Revision of GDP Statistics: More Questions than Answers?" The China Quarterly, March.

Wikileaks. 2007. “Fifth Generation Star Li Keqiang Discusses Domestic Challenges, Trade Relations with Ambassador.” Cable, March 15. Cable: 07BEIJING1760_a

Pacific Basin Notes are published occasionally by the Center for Pacific Basin Studies. Opinions expressed in FRBSF Economic Letter do not necessarily reflect the views of the management of the Federal Reserve Bank of San Francisco or of the Board of Governors of the Federal Reserve System. This publication is edited by Sam Zuckerman and Anita Todd. Permission to reprint must be obtained in writing.
"

But unlike India, the US Federal Reserve has not adopted the Vedic statistical methodologies, which are the most sophisticated and advanced in the world.