Chinese Leaks Are A Swiss Watch: CPI At 4.6%, 2010 GDP At 10.3%

Tyler Durden's picture

Earlier we reported that based on a leak to Phoenix TV, "China's
inflation hit 4.6% in December, pushing the full-year 2010 consumer
price index up 3.3%, while the national economy grew 10.3% last year,
Hong Kong-based broadcaster Phoenix TV reported on its website
Wednesday, without citing any sources." Guess what: it was spot on. Just released CPI comes at 4.6%, just below the "official" estimate, and down from 5.1% before, while 2010 GDP of 10.3% came above expectations (and in line with leaks) of 9.5%. Lastly, the PPI came in at 5.9%, to pretend to offset some of the consumer price inflation, also spot on with the leaked number. Which begs the question: why was this data, as bogus as it is, leaked? Actually, that question, along with the data, is very much irrelevant. In the meantime, the AUDJPY and AUDUSD couldn't care less, both having barely budged by 10 pips.

Full data:

  • December GDP: 9.8%, vs. Exp. of 9.5%
  • Dec. retail sales: 19.1%, vs Exp. of 18.7%
  • December producer prices: 5.9% YoY, vs. Exp. of 5.8%
  • December consumer prices: 4.6% MoM, vs. Exp. of 4.7%