China Industrial Profits Fell More as Producer Prices Slowed
- Profits decline 2.1% in first eight months of the year: NBS
- Production, operation costs remain high, NBS statistician says
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Profits at industrial firms in China shrank in the first eight months of the year as producer prices slowed, adding to economic challenges including Covid disruptions and a continued property slump.
Industrial profits fell 2.1% in the January-to-August period compared to a year earlier, data from the National Bureau of Statistics showed Tuesday. That compared with a decline of 1.1% in the first seven months of the year.