China Factory Profit Drop Slows to 1.7% in June

China’s industrial profits fell 1.7 percent in June from a year earlier, easing from May’s 5.3 percent decline and raising hopes that the world’s second-largest economy may be stabilizing as policy stimulus gains traction.

The government has stepped up policy easing in recent months, cutting interest rates twice in June and July and fast-tracking infrastructure investment projects.

Chinese factories made combined profits of 468.2 billion yuan ($73.34 billion) in June, the National Bureau of Statistics said on Friday.

Profits amounted to 2.3 trillion yuan in the first six months, down 2.2 percent from a year earlier, moderating from a decline of 2.4 percent during January-May period, the agency said in a statement published on its website, www.stats.gov.cn.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza