China’s industrial profits fell 14% year-on-year in the first two months of 2019, marking the steepest drop since official monthly industrial profit data started becoming available in October 2011, said Caixin.
Over the first two months of 2019, total profits of the country’s industrial sector slumped to$105 billion, according to data released by the National Bureau of Statistics (NBS).
The drop in profits was due mostly to the declining profits of major industries, said Zhu Hong, a senior statistician of the NBS.
The automotive, oil processing, nonferrous metals and chemical manufacturing industries all fell in profits, according to the data.
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