Economic Indicators
China’s Q1 industrial profit falls 21.4% y/y
2023.04.26 22:44
© Reuters. FILE PHOTO: Employees work at the production line of aluminium rolls at a factory in Zouping, Shandong province, China November 23, 2019. REUTERS/Stringer
BEIJING (Reuters) – Profit at China’s industrial firms fell 21.4% in the first quarter from a year earlier, official data showed on Thursday, as the factory sector struggled to shake off the fallout from crippling pandemic.
The decline compared with a 22.9% slump in industrial profit in the first two months, data from the National Bureau of Statistics (NBS) showed.
The data covered firms with annual revenues of at least 20 million yuan ($2.89 million) from their main operations.
($1 = 6.9163 )
