Data from China’s National Bureau of Statistics (NBS) released over the weekend.
Profits at China’s industrial firms in April -18.2% y/y
- prior -19.2%
For the YTD. ie. January – April, down 20.6% y/y
- prior (January – March) -21.4%
Margin pressures, soft demand & a faltering economic recovery cited.
Chinese tabloid media outlet Global Times highlighted more encouraging aspects:
- the overall economic rebound and its internal momentum shouldn’t be questioned or ignored, experts told the Global Times
- Combined revenues rose 3.7 percent, accelerating by 3.1 percentage points from the previous month
- Of the 41 industrial categories, 23 posted better profits in April compared with March