Of more note over the weekend from China is the news of a Shanghai lockdown:
Coronavirus - Shanghai lockdown begins today (Monday 28 March 2022)
However, the data:
Profit growth at China's industrial firms +5.0% y/y in the months of January-February (these two months are often combined for data releases to help ease the impact of the variable timing of the long, lunar new year holidays in China each year)
- from a +4.2% in December
- profits jumped in profits in the energy & raw materials sectors (higher prices of commodities)
- sectors reliant on inputs from the energy & raw materials sectors, however, say profit growth weighed on by the rising price of these inouts
