China Industrial Profits Jump Sharply as Economy Stabilizes
- August’s growth was first monthly increase since 2H 2022: NBS
- PBOC vowed to provide ‘more forceful support’ for the economy
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Chinese industrial profits rose in August for the first time in more than a year, a further sign the economy is stabilizing.
Industrial profits increased 17.2% from a year earlier, according to data published by the National Bureau of Statistics on Wednesday. The increase in August was the first monthly growth since the second half of last year, NBS analyst Yu Weining said in a statement.