Chinas industrial profits declined in April as lock-downs disrupted production and higher raw material prices squeezed margins, data from the National Bureau of Statistics showed. In April, industrial profits decreased 8.5 percent from the previous year. This was the biggest fall since early 2020. During January to April, industrial profits expanded 3.5 percent, slower than the 8.5 percent increase posted in the first quarter. Data released earlier this month showed that industrial production decreased 2.9 percent annually in April. The extended lock-down in Shanghai weighed heavily on manufacturing activity and exports.Powered by Commodity Insights
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