China April industrial profits up 14 percent but slowing pace stokes economy worries

http://ift.tt/1jUfBeX

Profits earned by Chinese industrial firms rose 14.0 percent in April from a year earlier, official data showed on Saturday, slowing from March’s pace and adding to concerns that the world’s second-largest economy may be losing steam. Profits in April rose to 572.78 billion yuan ($83.59 billion), the National Bureau of Statistics (NBS) said on its website. A building boom, fuelled by a government infrastructure spree and a heated housing market, has boosted demand and prices for materials from steel to cement, giving China’s long ailing “smokestack” industries more cashflow to chip away at a mountain of debt.

May 28, 2017 at 01:02AM

http://ift.tt/2s8dOLk

from

http://ift.tt/2s8dOLk