China Industrial Profits Rise in Sign of Stabilizing Economy
- Earnings jump 10.2%, partly boosted by low base of comparison
- Revenue rise accelerates on better demand, output growth: NBS
Factory output and fixed-asset investment grew faster than expected in the first two months.
Photographer: Tang Dehong/Feature China/Future Publishing/Getty Images
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Profits at China’s industrial companies increased in the first two months of the year, extending a gaining streak since August and adding to positive signs in the economy.
Industrial profits rose 10.2% from a year earlier in January-February, according to data published by the National Bureau of Statistics on Wednesday. That was boosted by a low base of comparison a year earlier and came after double-digit growth was recorded in four of the last five months in 2023. For the full year of 2023, profits fell 2.3% due to slumps in the first seven months.