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CHINA:  Industrial Profits’ Decline Continues. 

CHINA
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • China’s October Industrial Profits declined 10% y/y, the third decline in a row.
  • Industrial profits for September had declined -27.1% y/y.
  • With factory output soft and PPI at -2.9% y/y for October today’s result was little surprise.
  • This was one of the first examples of how businesses are reacting to the significant stimulus announcements recently.
  • Whilst still contracting, the evidence does point to some improvements and next weeks PMI’s will provide a further update as to the impact the policies are having. 
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  • China’s October Industrial Profits declined 10% y/y, the third decline in a row.
  • Industrial profits for September had declined -27.1% y/y.
  • With factory output soft and PPI at -2.9% y/y for October today’s result was little surprise.
  • This was one of the first examples of how businesses are reacting to the significant stimulus announcements recently.
  • Whilst still contracting, the evidence does point to some improvements and next weeks PMI’s will provide a further update as to the impact the policies are having.