China Industrial Profits Rise Most in Three Years as Economy Shows Signs of Stabilizing

Profits in China’s industrial sector rose at the fastest pace in three years as the world’s second-biggest economy showed more signs of stabilizing, though some private forecasters say the improvement may be more fleeting than real.

Profits of industrial firms in August jumped 19.5 percent from a year earlier to 534.8 billion yuan ($80 billion), the National Bureau of Statistics (NBS) said on Tuesday. That was the largest increase since August 2013.

China’s economy grew 6.9 percent last year, the slowest in 25 years, as global demand ebbed. Following billions of dollars in government spending and a property boom in the country’s top-tier cities, official data in recent months are starting to point to some stabilization in the economy.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.