UnveilingdiscrepanciesinU.S.growthdata:InsightsfromChineseeconomists_GuangmingOnlineLately,there'sbeenaviralchartcirculatingontheinternet,showcasingsubstantialincreaseinU.S.constructionspendingwithinthemanufacturingsector.Thissignificanteconomicindicatorprovidesinsightintothelevelofinvestmentanddevelopmentoccurringwithinmanufacturing,andreflectsthevitalityanddirectionofacountry'seconomicgrowth.ChartshowingtotalconstructionspendinginthemanufacturingsectorintheUnitedStatesBasedondatafromtheU.S.CensusBureau,constructionspendingbyU.S.manufacturershassurgedby71.7%comparedtothepreviousyear.InOctober2023,theannualratereachedalmost$206billion,upfrom$121billionrecordedayearearlier.Inthebiggerpicture,theU.S.economicdataforthefirstthreequartersthisyearappearsremarkablystrong,withseveralaccomplishmentsincludingcontinuoussurgeinstockmarketvaluations,sustaineddeclineinunemploymentrates,andrapidGDPgrowth.IstheU.S.trulyembarkingontheearlystagesofa'manufacturingsupercycle'assuggested?TwoChineseeconomistshavepointedoutsomeconcerningfactsbehindtheremarkableeconomicperformanceshownbythedata.ScreenshotshowingthearticlewrittenbySongXiaojun,deputydirectoroftheResearchInstituteofChinaConstructionBank,andYuXiang,seniorexpertattheResearchInstituteofChinaConstructionBankDespitemanufacturinggrowthoftendrivinghigherpowerusage,nationalelectricityconsumptionhasunexpectedlydeclinedcomparedto2022,wroteSongandYuinthearticleanalyzingtheU.S.economicdata.AccordingtotheShort-TermEnergyOutlook(STEO)releasedinthisSeptember,U.S.electricityconsumptionisexpectedtodecreaseby1.26%in2023,from4,048TWhin2022to3,997TWhin2023.Breakingitdownbysectors,residentialelectricityusageisforecastedtodeclineby2.69%,commercialusageby1.8%,andindustrialusageby1.39%.Accordingtothearticle,thelogisticsdataintheU.S.alsocontradictsthenotionofaswifteconomicrebound.CathieWood,CEOofARKInvest,hashighlightedconcernsafteranalyzingUPSrevenue,revealingadeclineindailydeliveryvolumesdespitestablemarketsharesamongmajorcourierfirms.Thissignalsabroadershrinkageinthecouriersector.FedExhasalsopredictedasubstantial25%year-on-yearreductioninitsnationaldeliveryvolumefor2023.TweetpostedbyCathieWoodSongandYualsopointedoutastarkcontrastbetweentwosetsofU.S.employmentdata.TheU.S.BureauofLaborStatisticshasreportedthatSeptember’snonfarmpayrollsroseby336,000,surpassingtheexpected170,000.However,figuresfromtheprivatefirmAutomaticDataProcessing(ADP)indicatedamodest89,000increaseinnonfarmemploymentinthesamemonth,wellbelowtheanticipated153,000.Regardingdiscrepanciesbetweenreporteddataandthereality,thearticlefurtherexplainedthatstatisticalerrorscouldpartlyaccountfortheaberration.There’salsoapossibilitythatAmericanbusinessesmightmanipulatedatatosecuregovernmentsubsidies.Athirdexplanationalludesto“a‘hiddengrandstrategy’,aimingtomaskdeepereconomicconcerns,attractmorecapitaltotheUnitedStates,andoffsetcurrentaccountdeficitswithsurpluscapital,”thearticlesaid.Editor:DisclaimerTheviewsandopinionsexpressedinthisarticlearethoseoftheauthor's,GMW.cnmakesnorepresentationsastoaccuracy,suitability,orvalidityofanyinformationonthissiteandwillnotbeliableforanyerrors,omissions,ordelaysinthisinformation.