China Stunner: Real GDP Is Now A Negative -1.1% - Evercore

``Our proprietary Synthetic Growth Index (SG!) fell 1.1% mim in July, and was also down 1.1% y/y. No wonderglobal commodities are so weak. The most recent 18 months have been much weakerthan the 2011-13 period. Even if we adjust our SG I upward (for too-little representation of Services -- lack of data), we believe actual economic growth in China is far below the official 7.0% yly''