If I didn’t know better, I would have thought that Chris Rugaber or Martin Crutsinger at the Associated Press, aka the Administration’s Press, wrote Joe McDonald’s dispatch on China’s disappointing economic growth for him.
McDonald’s report carries the same kind of “it’s really pretty good right now, but if you don’t think it is, it will get better” language we’ve come to know and despise:
China’s economic growth falls to nearly 3-year low
China’s economic growth fell to its lowest level in nearly three years in the first quarter but analysts said the economy should rebound in coming months.
Growth in the world’s second-biggest economy declined to a still-robust 8.1 percent in the three months ending in March, data showed Friday. That was down from the previous quarter’s 8.9 percent and the weakest rate since the second quarter of 2009.
China’s rapid growth has declined steadily since 2010 as a slump in global demand battered its exporters and Beijing tightened lending and investment curbs to cool an overheated economy and surging inflation.
… “This quarter’s growth was pretty weak,” said IHS Global Insight analyst Xianfang Ren. “Starting from next quarter, growth should strengthen.”
The World Bank and private sector analysts expect China to achieve a “soft landing,” with growth rebounding later this year. But some worry growth might fall too abruptly, raising the risk of job losses.
… Other data showed Chinese factory activity, retail sales and exports accelerating over the course of the first quarter, though still weaker than last year.
… “China’s economy is stabilizing,” said Sheng Laiyun, a spokesman for the National Bureau of Statistics, at a news conference.
And that Chinese government data is sooooo reliable.