Weekend data - China Industrial profits in April down 18.2% y/y (March was -19.2% y/y)

Weekend data – China Industrial profits in April down 18.2% y/y (March was -19.2% y/y)

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

For the YTD. ie. January – April, down 20.6% y/y

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

Weekend data – China Industrial profits in April down 18.2% y/y (March was -19.2% y/y)