CHINA CURRENT RATE OF PROFIT and US retail data filled with false positives.

Chinese GDP data was released shortly. GDP at 4.9% for Q3 came in below expectations of 5.2% and represented a mere 0.2% increase on Q2. The only data point to beat expectations was retail sales but that was to be expected when ‘official’ RPI data came in at a paltry 0.7% for September.