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- China Industrial profit dropped sharply in the January to February period
China Industrial profit dropped sharply in the January to February period
National Bureau of Statistics said, earnings at China's large industrial firms dropped sharply in the first two months of the year, as lower factory-gate prices and slower sales ate into profits.
According to the report, China's industrial profits tumbled 14% in the January to February period, extending a 1.9% decrease in December.
Factory-gate prices in automobile, oil refining, steel and chemical all declined in the two month period from a year ago, dropping between 0.4% and 2.5%, dragging on profits of these sectors, the statistics bureau said. The combined decrease in profit shaved the headline profit growth by 14.2%.
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