China's industrial profits grow slowest this year
The profits of China's industrial sector recorded their weakest growth rate of the year, increasing by 4.2% in August compared to the same month last year, amid weak consumer demand and rising energy costs. This slowdown comes after the sector experienced a rebound earlier in the year, driven by a surge in profits from the artificial intelligence and technology sectors, despite a 16% decline in the automotive sector. This deceleration is partly attributed to the high comparison base from the previous year. Chinese authorities are expected to continue boosting domestic demand and improving supply chains to support corporate profits and economic stability. Industrial activity indicators also show a continued slowdown, with expectations of further stimulus measures to encourage growth.
Notice: This Is an AI-Generated Summary
Comments (0)