The Financial Times (via Fast FT - gated) on the August China Industrail profit data

(data is here ... China August industrial profits +19.5% y/y (prior +11.0%) ... there ya go, saved you a click!)

Anyway, FT:

The statistics bureau pointed to five factors:

  1. accelerating sales by industrial producers;
  2. continued price rises;
  3. falling costs;
  4. a favourable basis for comparison in the year-on-year gauge of growth;
  5. and greater activity in auto, steel and refined oil production.

NBS add:

  • industrial profits "continued to appear to be taking an energetic turn"
  • Warned overcapacity remained serious and both domestic and global demand remained insufficient