The FTSE 100 is slightly higher in today’s trading session and has so far shrugged off the fact that Chinese industrial production, published overnight, failed to meet expectations and the year-on-year is as soft as it was back in March 2015, which is also the weakest level since 2008. The outcome was 5.6% vs. the 5.8% YoY expected.
On the other hand, a separate report showed China auto sales gained the most in 10 months and the primary reason for this boost is said to be a reduction in car-purchase tax. This trend is also expected to increase according to Don Yang, Secretary General of the Chinese Auto Association. We also note that Chinese retail sales increased by 11% vs. the 10.9% YoY expected.