China’s industrial company profit growth slows
Data released this week may temper optimism sparked by a gangbuster start to the year
National Bureau of Statistics figures showed industrial firm profit growth cooling to 23.8% for March, down from gains of 31.5% for the January-February period, reports Caixin.
The numbers may dampen the excitement generated by China’s surprisingly robust economic growth rebound to start the year. China’s GDP saw 6.9% growth over the first three months of the year, up from 6.8% in 2016.
Profits had surged on a recovery in raw material prices, but the impact has tapered off as commodity prices inch back downward.