Reported 11 days ago
China's industrial profits dropped sharply in August, marking the largest decline this year at 17.8% compared to the previous year. This downturn follows a slight increase in July and is attributed to weak market demand, adverse weather conditions, and a high statistical base from last year. The declining profits have exacerbated concerns about an economic recovery, leading to lowered growth forecasts amid stagnant domestic consumer demand. In response, the central bank has implemented significant stimulus measures aimed at boosting the economy.
Source: YAHOO