Economics
China’s Industrial Profits See Worst Start to a Year Since 2009
- Industrial profits drop 14 percent in Jan.-Feb from year ago
- Autos, oil processing, steel, and chemicals all saw drops
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The profits of Chinese industrial companies had the worst start to a year since the global financial crisis due to weaker factory inflation, slowing production and seasonal factors.
Manufacturing companies’ profits in January and February declined 14 percent from the same two months a year earlier, the National Bureau of Statistics said in a statement. That compares with a 1.9 percent drop in the single month data for December.