China released GDP numbers on Monday and despite claims of a deceleration in the Chinese economy, the official statistical bureau reported that growth was 6.8%, very near the target of 6.9%.

“We Don’t Believe Them”

Danny Gabay of Fathom Consulting, and formerly of the Bank of England, told BBC Radio 4 that “Quite frankly we don’t believe them. It’s not just that they come in suspiciously close to the target, it’s that they’re produced remarkably quickly and rarely revised.” (

Corporate Earnings Fears

Corporations have flashing warning signals about China since at least the second quarter.

Steel in a Nosedive

Does this look like what you would expect of steel prices in a fast growing economy?

china steel index

Official Growth Below 7%