Industrial Profits Recovery To Continue - Journal

The profitability of industrial enterprises continued to recover in August as 27 out of 41 major industrial sectors reported improved profit performances, the China Securities Journal reported citing data from the National Bureau of Statistics. Easing commodity prices helped narrow the profit decline of equipment manufacturing for a fourth consecutive month to -2.0% in the first eight months compared to -3.7% in Jan-July period. Automobile manufacturing profits increased by 1.02 times year-on-year in August, the highest growth rate in a year, driven by stimulus to boost auto consumption, the newspaper said. Industrial profits are expected to continue to improve as policymakers focus on expanding demand and strengthening rescue policies, the newspaper said citing analysts.