The contraction in industrial profits suggests the growth of the world’s second largest economy will slow further in the fourth quarter from the decade-low gross domestic product (GDP) growth rate of 6.5 per cent in the third quarter. Photo: Handout
China’s industrial profits drop for first time in three years due to trade war impact
- Figures fall 1.8 per cent in November from a year earlier after industrial profit growth had decelerated in each of the previous seven months
- National Statistics Bureau data is in line with other weak economic activity data for November including retail sales, industrial production and foreign direct investment
Topic |
China economy
The contraction in industrial profits suggests the growth of the world’s second largest economy will slow further in the fourth quarter from the decade-low gross domestic product (GDP) growth rate of 6.5 per cent in the third quarter. Photo: Handout