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Financial News: China's Industrial Profits Rise For Fifth Month

China's Industrial Profits Rise For Fifth Month

10/27/2020 - 01:17:00 (RTTNews)

(RTTNews) - China's industrial profits increased for the fifth straight month in September, data from the National Bureau of Statistics showed Tuesday.

Industrial profits grew 10.1 percent on a yearly basis but slower than the 19.1 percent increase posted in August. This was the fifth consecutive rise.

The statistical office cited falling factory gate prices and rising raw material prices as major reason for the slowdown in industrial profits.

During January to September period, industrial profits declined 2.4 percent from the same period last year.

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