China Industrial Profits Jump 24% in Biggest Gain Since 2013
- Statistics bureau cites producer price gains and lower costs
- Oil, steel and electronics led the surge as leverage declined
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Chinese industrial firms extended this year’s earnings surge, suggesting resilience in the world’s second-largest economy endures even amid slowing factory output and investment.
Industrial profits increased 24 percent in August from a year earlier, the most in four years, compared with the 16.5 percent pace a month earlier, the statistics bureau said Wednesday. Profits in the first eight months of the year climbed 21.6 percent from a year earlier, with statistics officials attributing the jump to faster producer-price inflation and lower costs.