Recap of the China's industrial profits data (showed a 9.9% fall y/y in October)

Author: Eamonn Sheridan | Category: News

The data post is here from earlier: China data - Industrial Profits for October -9.9% y/y (prior -5.3%)

  • biggest fall since 2011
  • 3rd consecutive month of negative (i.e. falls in profit ... this can be significant for capex ahead and not in a positive way) 
For the January-October period, i.e. YTD, , profits -2.9% y/y
  • compare with -2.1% for January-September
A few more details from the release:
Industrial companies' liabilities +4.9% y/y (was +5.4% in September)
Profits of state-owned industrial firms down 12.1% y/y YTD
  • private sector +5.3% 

China's NBS senior statistician Zhu Hong:
  • fall in profits was mainly attributable to an expanding decrease in producer prices for manufactured goods, slower production and sales growth
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This is data for firms with more than 20m yuan in annual revenue from their main operations.


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