Economic Buzz: China Industrial Profits Declines 2.3%

27 Oct 2022 , 11:43 AM

Chinas industrial profits declined at a faster pace in the first three quarter of 2022 as companies still face higher costs and Covid related disruptions, official data revealed Thursday. Industrial profits declined 2.3 percent in the January to September period, which was faster than the 2.1 percent drop in the January to August period, the National Bureau of Statistics reported. Data released this week showed that industrial production advanced at a faster pace of 6.3 percent on a yearly basis in September, following a 4.2 percent gain in August.Powered by Commodity Insights