Monday morning briefing: Industrial profits surge in China
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Chart of the week: Industrial profits surge in China
In October, industrial profits in China rose at their fastest pace since March 2012, surging 28.2% year-over-year. October was also the first month that year-to-date profits were ahead of the same period in 2019. Both private- and state-owned industrial companies have experienced a rise in profits in recent months, after falling substantially during the COVID-19 lockdowns. Stronger exports, along with robust local and global consumer demand, are bolstering the sector. The strength of the industrials sector has helped China avoid a technical recession thus far in 2020. Can the industrials sector now help push the Chinese economy back to being one of the fastest growers in the world? Let us know what you think.
Used with permission of Bloomberg Finance L.P.
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