China’s Industrial/Factory profits declined 1.7 percent in June on a y/y basis vs 5.3 percent decline in May. The decline in profits could point out to more government policy action.
Factory profits came in at RMB 468.2 b (USD 73.34 b) in June; 1HY12 profits came in at RMB 2.3 t, down 2.22 percent on a y.y basis.
Profits are expected to pick up in the second half of the year as demand would rise, commodity prices would fall helping firms reduce costs. (CNBC)
Categories: General News