CHINA's industrial profits swung back into sharp decline in May from a year earlier, as factory activity slowed in the face of broader economic stress and a fragile trade truce with the United States, reports Reuters.
Deepening deflationary pressures and a persistent property crisis continued to undercut demand and growth in the world's second-largest economy.
A few signs, including an unexpected pickup in retail sales growth last month, suggested some resilience among households even though market consensus is that more policy support is required to bolster a fragile economic recovery.
Profits at China's industrial firms fell 9.1 per cent in May from a year earlier, snapping a two-month growth streak, National Bureau of Statistics data showed on Friday. The profit decline was due to 'insufficient effective demand, declining prices of industrial products and fluctuations in short-term factors,' said NBS statistician Yu Weining.
SeaNews Turkey
Deepening deflationary pressures and a persistent property crisis continued to undercut demand and growth in the world's second-largest economy.
A few signs, including an unexpected pickup in retail sales growth last month, suggested some resilience among households even though market consensus is that more policy support is required to bolster a fragile economic recovery.
Profits at China's industrial firms fell 9.1 per cent in May from a year earlier, snapping a two-month growth streak, National Bureau of Statistics data showed on Friday. The profit decline was due to 'insufficient effective demand, declining prices of industrial products and fluctuations in short-term factors,' said NBS statistician Yu Weining.
SeaNews Turkey
