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China data prompts global growth concerns

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LONDON — European markets are set for a tepid open on Wednesday after weak Chinese economic data reignited worries that global growth is slowing.

Britain’s FTSE 100 is seen around 5 points higher at 7,039, Germany’s DAX is set to add around 13 points to 15,736 and France’s CAC 40 is expected to climb by around 3 points to 6,656, according to IG data.

Shares in Asia-Pacific were mostly lower on Wednesday after data showed China’s retail sales growing at a much lower pace than expected in August. The retail sales print for the month grew 2.5%, against a 7% growth forecast by analysts polled by Reuters.

Stateside, stock futures were flat in early premarket trade after the Dow Jones Industrial Average plunged 290 points on Tuesday, as investor concerns about the state of the global economic recovery and the next move from the U.S. Federal Reserve.

Labor Department figures published Tuesday showed a smaller-than-expected rise in U.S. inflation for the month…

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