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Slowing Industrial Profits Highlight Economic Fragilities

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Profit growth in China’s industrial firms slowed in September from the previous month’s rapid pace as several sectors showed weak activity, suggesting the world’s second-biggest economy remains underpowered despite emerging signs of stability.

Profits in September rose 7.7 percent to 577.1 billion yuan, slowing sharply from August’s 19.5 percent jump, according to data released by the National Bureau of Statistics (NBS) on its website on Thursday.

Profits in industries such as electronics, steel and electricity were hit by a significant drop in growth, He Ping, a NBS official said in a note accompanying the data.

CNBC

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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