China’s industrial profits unexpectedly jumped 15.5 percent in May from the same month last year, the National Bureau of Statistics said on Thursday, beating consensus forecasts.
Industrial firms in China generated profits of 470.6 billion yuan ($76.1 billion) in the month, bringing total profits from January-May to 2.08 trillion yuan, up 12.3 percent from the year-ago period.
The rise in May was substantially higher than the previous April’s year on year rise of 9.3 percent, and much better than analyst expectations of 7-8 percent.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.