Profits at China's industrial firms declined in annual terms for the third ...
BEIJING - Profits at China’s industrial firms declined in annual terms for the third consecutive month in October, tracking sustained drops in producer prices and exports and underscoring slowing momentum in the world’s second-largest economy.
China’s industrial sector has been under pressure in recent months as slowing demand at home and the fallout from the Sino-U.S. trade dispute undercut earnings. China’s producer price index, seen as key indicator of corporate profitability, fell by the sharpest rate in more than three years in October as prices for raw materials dropped. The country’s official manufacturing PM also showed a contraction in activity for the sixth straight month in September as new export orders declining for the 17th month in a row.
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