December economic data chartbook.

December economic data in a nutshell: December data was a bit softer than the previous month, but Q4 points to a modestly weaker but broadly stable economy.  Concerns over hard-landing economic prospects are overdone.  Consumption remains strong.  Service growth is robust.  Heavy industries, like steel and cement, are still falling like a bag of hammers as overcapacity weighs on traditional growth driver sectors.  Fiscal expenditures picked up.  Credit growth has stabilized at a weak 11-12%.  The housing market is improving, and constriction is less negative. 

Here is my Chartbook for more info: