China has suspended the publication of data on the state of its economy

China suspended the publication of the PMI index (industrial consumption or business activity). The official reason officials of the PRC call the lack of time to process a large number of reports. This is reported today by Bloomberg.

“Today, 3,000 documentary reports have accumulated with us, the processing of which will take a lot of time. There are many industries in China,” said Mr. Tsai Jin, vice-president of the Chinese Federation of Logistics & Purchasing yesterday in Beijing, Mr. Tsai Jin. He is responsible for compilation of data from the National Statistics Bureau.

The disappearance of data on the Industry of the PRC, including the production and sales of steel, added oil to the fire of the recently raised problems of high data that appear in Chinese analytics. Chinese statistics this week simply fell silent, without publishing a single line of data on industrial production.

"A break in monthly data, made without a preliminary notification, disorients and complicates our work," says Suy Zyu Ziangchun, chief analyst at MYSTEEL.com.

Prime Minister of China Lee Katsyan said today that the Chinese economy is stable, although there are serious structural problems. He promised to maintain a balanced credit-money policy and "rationality" in the economy.

The National Bureau of Statistics of the PRC does not respond to requests for users of paid subscription and does not comment on the situation.

Earlier this week, the persons participating in the calculation of the business activity index in the China steel industry said that the data publication were prohibited after the decision of the statistics bureau to “correct” the data on metallurgy a little.

As you know, China is the world's largest steel manufacturer. It accounts for 49.18 percent of world production of raw steel according to the World Association of Manufacturers of the WorldSteel, experts from the metallurgical portal Steelland.ru

The PMI business activity index is the result of a survey of suppliers and managers responsible for the purchase of industrial goods at enterprises. The index indicator below 50 means a slowdown in the economy and a drop in domestic consumption. The last PMI index in China was 46.8 in May after 45.1 in April 2013.