China’s Industrial Profits Sink on US Tariffs, Deflation Woes
Workers on the production line at a kitchen utensils factory near Zhuhai, China.
Photographer: Qilai Shen/BloombergChina’s industrial firms saw their profits drop the most since October, illustrating weakness in an economy strained by higher US tariffs and lingering deflationary pressure.
Industrial profits fell 9.1% last month from a year earlier, according to data released Friday by the National Bureau of Statistics. The May reading reversed a modest gain earlier this year and took decline in the first five months to 1.1%.