Data released over the weekend showed China's industrial profits fell y/y in March

China's industrial profits March 2024 fell 3.5% y/y, this slowed the gains made for the quarter compared to the first two months. In January - February industrial profits rose 10.2% y/y. But for Q1 as a whole, profits of China's industrial firms rose 4.3% to 1.5 trillion yuan.This subdued result adds to the already lacklustre industrial production and retail sales data for March:China: March Industrial output +4.5%y/y (expected +5.4%) Retail sales +3.1% (4.5% exp)The picture in China is still of an economy suffering from weaker-than-desired domestic demand. The industrial profits data we had over the weekend will sap enthusiasm for capex in China. Exports are a, relative, bright spot. China’s Auto Exports Set Monthly Record in MarchChina March (USD) exports +14.8% y/y (expected -7.1%) & Imports -1.4% y/y (expected -6.4%) This article was written by Eamonn Sheridan at www.forexlive.com.

Apr 29, 2024 - 06:05
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Data released over the weekend showed China's industrial profits fell y/y in March

China's industrial profits March 2024 fell 3.5% y/y, this slowed the gains made for the quarter compared to the first two months.

  • In January - February industrial profits rose 10.2% y/y.
  • But for Q1 as a whole, profits of China's industrial firms rose 4.3% to 1.5 trillion yuan.

This subdued result adds to the already lacklustre industrial production and retail sales data for March:

The picture in China is still of an economy suffering from weaker-than-desired domestic demand. The industrial profits data we had over the weekend will sap enthusiasm for capex in China.

Exports are a, relative, bright spot.

This article was written by Eamonn Sheridan at www.forexlive.com.
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