Industrial profits in November rose 5.4% from a year earlier to 593.9 billion yuan ($84.93 billion), snapping three months of decline, as production and sales quickened, data from the National Bureau of Statistics (NBS) showed on Friday. That compared with a 9.9% drop in October.
For January-November, industrial firms notched profits of 5.61 trillion yuan, down 2.1% from a year earlier, but slightly better than a 2.9% fall in the first 10 months.
The expansion was mostly due to quickening production and sales, while factory-gate prices contracted at a slower pace, said Zhu Hong, an official with the statistics bureau in a statement released alongside the data.
But he cautioned that the rebound may not be an indication of a sustained recovery. – Reuters
Manufacturers Of Electrical Equipment – Revenues & Profits