China Industrial Profits Held Up in October Amid Price Gains
- Coal, steel, chemicals and oil contributed 51.2% to increase
- Profit growth remains near highest level in almost six years
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Chinese industrial profits maintained their recent surge, underscoring resilience in the economy and strength in producer inflation.
Industrial profits increased 25.1 percent in October from a year earlier, compared with a 27.7 percent pace a month earlier that was the highest in almost six years, the National Bureau of Statistics said Monday. Profits in the first 10 months of the year climbed 23.3 percent to 6.25 trillion yuan ($946 billion).