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Bloombergs European Headquarters in london. Breaking news from the iea, the International Energy agency. The report is out and the iea says opecs supply they see opecs supply jumping the most in four years on saudi surges or beget we had a story saying iran is the latest country to jump on the bandwagon, asking for opec production to the cut. Nymex at 54 brent 59. Chinas economy is in the spotlight with all Global Economic indicators pointing to a deepening slowdown. Stocks are headed for their biggest drop in weeks. Bloombergs chief asia economist joins us now from beijing. Tom orlik. Gdp came in target on 7 . The data actually disappointed. What should we read into all this . Tom i think that is right, francine. There was some good news. The premier said he wanted 7 growth for the year. In the first quarter, he got it. Gdp coming in at 7 . There was also bad news. A lot of the monthly data was disappointing, in particular industrial output which is the main monthly measure of growth.

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