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Even these robust retail sales understate the strength of consumer spending, says Arthur Kroeber of Dragonomics, a Beijing-based economic research firm.
ECONOMIST: China's households are not as tight-fisted as you think
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Overall, Dragonomics's Mr Kroeber thinks that GDP growth in the year to the first quarter of 2009 was not significantly overstated.
ECONOMIST: Is China overstating its true rate of growth?
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"I think the leadership may be looking at the recent performance and over-estimating how good they really have done, " said Arthur Kroeber, managing director of the research firm Dragonomics.
BBC: China to address economic imbalance
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One reason is that seasonal adjustment is tricky in such countries where the shift from agriculture to industry changes the pattern of seasonality over time, says Mr Kroeber.
ECONOMIST: Is China overstating its true rate of growth?
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Arthur Kroeber of GK Dragonomics, a consultancy, says the country still enjoys a considerable tailwind from urbanisation and a huge potential for productivity gains as it adopts new technology.
ECONOMIST: China��s roaring growth cannot last indefinitely
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Logan Kroeber is the other half.
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On the other hand, Kroeber agreed with Faber that the Chinese economy is slowing down, and will continue to do so for a while, and that could hurt certain sectors (watch out for those overleveraged property developers, which have already taken a beating on the equities markets).
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