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Wall Street Keeps Overestimating China's Macro Data
Market Depth
Why Wall Street Cannot Get This China Call Right
The Q2 GDP print of 6.3% is not impressive when considering base effects and expectations./nWall Street consistently underestimates China's economic performance despite overwhelming evidence./nRetail sales and consumer strength were major contributors to the GDP miss./nWall Street analysts lowered their full year GDP growth estimates for China to 5%./nDespite being proven wrong repeatedly, Wall Street economists maintain a bullish outlook on China./nThere are two general reasons why Wall Street economists do not change their outlook when clearly wrong.
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