Chief Market Analyst (FXTM) Saying:
Markets are set to wake up to concerns over a slowing China economy for the third successive day following annualised Industrial Production data slipping below expectations a few hours ago. This economic release adds to the underlying anxiety around economic momentum consistently declining in China, and compliments the below expectations inflation release on Tuesday morning, as well as the incredibly weak trade data that was released over the weekend.
Imports dropped by an astonishing nearly 19%, which goes some distance towards explaining why those economies which have become so reliant on exports to the major economy are set to notice weak demand from China. The trade data also provided one of the major reasons why the Organisation for Economic Co-operation and Development (OECD) downgraded economic growth forecasts at the beginning of the week.
Although China GDP has slipped below the government target and all indications currently point towards economic momentum
