Economics
Chinese Industrial Profits Fall 6.2% in Fifth Straight Drop
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Chinese industrial companies’ profits dropped for a fifth month in August, adding to signs the nation’s economic slowdown is extending into a seventh quarter.
Net income fell 6.2 percent from a year earlier to 381.2 billion yuan ($60.4 billion), the National Bureau of Statistics said today in Beijing. That’s the fastest drop this year and compares with a 5.4 percent decline in July and a 1.7 percent slide in June.