Elevated raw material prices and supply chain constraints from extreme weather as well as sporadic coronavirus cases dragged on earnings in the manufacturing sector, data from the National Bureau of Statistics (NBS) showed on Friday. Photo: Xinhua Elevated raw material prices and supply chain constraints from extreme weather as well as sporadic coronavirus cases dragged on earnings in the manufacturing sector, data from the National Bureau of Statistics (NBS) showed on Friday. Photo: Xinhua
Elevated raw material prices and supply chain constraints from extreme weather as well as sporadic coronavirus cases dragged on earnings in the manufacturing sector, data from the National Bureau of Statistics (NBS) showed on Friday. Photo: Xinhua

China’s slowing industrial profits growth adds further evidence to loss of economic momentum

  • Industrial firms’ profits in July increased 16.4 per cent on an annual basis – the slowest rate this year – to 703.67 billion yuan (US$108.5 billion)
  • Zhu Hong, senior statistician at the National Bureau of Statistics, attributed the slower growth to sporadic coronavirus cases, flooding and high commodity prices

Topic |   China's economic recovery
Elevated raw material prices and supply chain constraints from extreme weather as well as sporadic coronavirus cases dragged on earnings in the manufacturing sector, data from the National Bureau of Statistics (NBS) showed on Friday. Photo: Xinhua Elevated raw material prices and supply chain constraints from extreme weather as well as sporadic coronavirus cases dragged on earnings in the manufacturing sector, data from the National Bureau of Statistics (NBS) showed on Friday. Photo: Xinhua
Elevated raw material prices and supply chain constraints from extreme weather as well as sporadic coronavirus cases dragged on earnings in the manufacturing sector, data from the National Bureau of Statistics (NBS) showed on Friday. Photo: Xinhua
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