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China’s industrial profits suffer an 18% decline in April due to sluggish demand

By Pete Sadler
Image by David Peterson from Pixabay

Profits at China’s industrial firms slumped in the first four months of 2023, official data showed on Saturday, as companies continued to struggle with margin pressures and soft demand amid a faltering economic recovery.

Profits fell 20.6% in January-April from a year earlier, compared with a 21.4% decline in the first three months, according to data from the National Bureau of Statistics (NBS).

In April alone, industrial firms posted a 18.2% drop in profit year-on-year, according to the NBS, which only occasionally gives monthly figures. Profits shrank 19.2% in March.

Read More : China’s industrial profits suffer an 18% decline in April due to sluggish demand

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