China Industrial Profits Extend Drop as Deflation Takes Toll

Profits at China’s industrial firms in September declined at a faster pace than a month earlier, as deflationary pressures sap the strength of corporate finances.

Last month’s industrial profits at large Chinese companies fell 27.1% from a year earlier, after a 17.8% plunge in August, the National Bureau of Statistics said in a statement Sunday. Profits decreased 3.5% in the first nine months from the same period in 2023.