Financial News: China Industrial Profits Increase

China Industrial Profits Increase

03/27/2024 - 02:47:00 (RTTNews)

(RTTNews) - China's industrial profits increased notably in the first two months of the year driven by the improvement in the manufacturing sector, data from the National Bureau of Statistics showed on Wednesday.

Industrial profits grew 10.2 percent in the January to February period from the previous year. This has reversed a 2.3 percent fall seen in 2023.

Profits of the equipment manufacturing sector logged a notable growth during January to February period.

ING economist Lynn Song said after upside surprise to industrial production at the start of the year, a further recovery of industrial profits sends another signal that there is a gradual recovery after a bottoming out last year.

"If the recovery of manufacturing continues, it would contribute toward reaching the 2024 growth target, but more supportive policies are still needed to sustain the momentum and recovery," the economist added.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Eurozone Consumers' 12-Month Inflation Expectations Lowest Since Dec 2021 - ECB (02 min(s), 44 sec(s) ago)
(RTTNews) - Euro area consumers' inflation expectations for the next 12 months hit their lowes ...Full Story»

U.S. Consumer Sentiment Dips More Than Previously Estimated In April (58 min(s), 44 sec(s) ago)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story»

U.S. Consumer Prices Rise 0.3% In March, Annual Growth Accelerates To 2.7% (08 min(s), 44 sec(s) ago)
(RTTNews) - Closely watched readings on inflation released by the Commerce Department on Friday sh ...Full Story»

Spain Unemployment Rate Rises In Q1 (40 min(s), 44 sec(s) ago)
(RTTNews) - Spain's unemployment rate increased at the start of the year, quarterly data from ...Full Story»

U.S. Consumer Prices Rise In Line With Estimates In March (21 min(s), 44 sec(s) ago)
(RTTNews) - Closely watched readings on inflation released by the Commerce Department on Friday sh ...Full Story»

Russia Central Bank Keeps Key Rate Unchanged (12 min(s), 44 sec(s) ago)
(RTTNews) - Russia's central bank left its key interest rates unchanged for the third consecut ...Full Story»

Austria Manufacturing Downturn Continues In April (02 min(s), 44 sec(s) ago)
(RTTNews) - Austria's manufacturing activity deteriorated further in April, though the pace of ...Full Story»

Eurozone Private Sector Credit Growth Remains Weak (31 min(s), 44 sec(s) ago)
(RTTNews) - Eurozone private sector credit continued to increase in March but the pace of recovery ...Full Story»