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Financial News: China Industrial Profits Recover In November

China Industrial Profits Recover In November

12/26/2019 - 22:22:00 (RTTNews)

(RTTNews) - China's industrial profits expanded after declining in previous three months, data from the National Bureau of Statistics showed Friday.

Industrial profits expanded 5.4 percent year-on-year in November, in contrast to a 9.9 percent decrease in October.

The recovery in industrial profits was driven by significant growth in industrial production and sales, Zhu Hong, NBS senior statistician said. Moreover, the factory gate prices of industrial products declined.

Nonetheless, Zhu noted that volatility in industrial profits remain due to multiple factors such as market demand and industrial product prices.

Data showed that in January to November period, industrial profits decreased 2.1 percent from the same period last year.

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