These have been on a downward trend. YTD they are down 1.7%
While there was no survey conducted to gather the 'expected' expectations I had seen were for a drop after the previous months tick up. The data result is a negative input for AUD, less profits mean less investment, less employment and so forth. Not a surpsiing development though if you've been following along on China.
NBS remarks on the data, say the result is due to output slowdown and fall in prices.
Yeah, those'll do it.
