Growth of Industrial Profits in China Slowed in November

Forex News

The growth of profits among industrial enterprises in China slowed in November. The data from the National Bureau of Statistics showed that industrial profit increased by 14.9% year-on-year, compared with an increase of 25.1% in October. This marked the slowest monthly growth rate since April (14.0%).

The report of the National Bureau of Statistics also noted that the main factor that contributed to the slowdown in the growth of corporate profits was the weakening of the rate of increase in prices for manufactured goods.

Analysts also said that the dynamics of Chinese business continues to improve, including, due to lower costs, increased capital turnover and reduction of companies’ debts.