Beijing Lets One Slip: Obscure Data Suggests China Housing Bubble Has Burst

Yet there was one critical data set in China’s manipulated economic data spreadsheet, which failed to get the royal goalseek treatment, one with dramatic implications for the broader market…..Chinese June data showed that furniture sales in China totaled only 18.4 billion yuan last month. This marks a year-on-year decline of 14% from the 21.3 billion yuan in sales that was reported last year for June 2018’s furniture sales.