ECRI has just updated its Chinese Leading Industrial Production Index (CNLIPI). The value of this forward-looking gauge lies in its ability to anticipate cyclical turns in Chinese industrial growth.

Given the current recessionary situation in much of Europe, many are looking to China as a potential investment haven. However, with recent data confirming continued weakness in Chinese industrial growth, there is growing concern among the consensus that a serious slowdown is already under way in the world’s second largest economy.

As China looks to strike a balance between the recent spike in oil prices and growing calls for policy easing, ECRI’s CNLIPI provides insight into whether the recent weakness in the Chinese economy is likely to worsen, or amount to little more than a hiccup in China’s relentless growth.