China’s industrial profit growth slowed for fifth straight month in July, adding signs of weakening economic recovery

china industrial companies

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Growth of profits generated by China’s industrial companies slowed for the fifth straight month in July, adding signs that the post-pandemic recovery in the world’s second-biggest economy is losing momentum.

Elevated raw material prices and supply chain constraints from extreme weather as well as sporadic coronavirus cases dragged on earnings in the manufacturing sector, showed data from the National Bureau of Statistics (NBS) on Friday.

Industrial companies’ profits in July increased by 16.4 per cent from a year earlier to to 703.67 billion yuan ($108.5 billion), the slowest . . .

 

 

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