Profits at China’s industrial companies rose at a much slower pace in October than the prior month as deflationary pressures persisted, suggesting the economic recovery remains fragile in the final stretch of 2023.
Industrial profits increased 2.7% from a year ago, according to data published by the National Bureau of Statistics on Monday. The pace eased significantly from September’s 11.9% gain and August’s 17.2% jump.
For the first 10 months of 2023, profits fell 7.8% from the same period a year earlier, moderating slightly from the 9% fall through the first nine months.
Read the full story here.