China January - February Industrial profits -22.9% y/y (vs. prior -4.0%)

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China January - February Industrial profits -22.9% y/y (vs. prior -4.0%)

<p>Huge ugly drop for profits data YTD.</p><p>January - February combined dropped 22.9% y/y.</p><p>For 2022 (January - December) the fall was 4%.</p><p>--</p><p>Industrial revenue dropped 1.3% y/y in January - February. Costs did not fall as quickly, hence to cutting into profit margins. </p><p>--</p><p>Industrial profit numbers from China cover firms with annual revenues of at least 20 million yuan (just under USD3mn) from their main operations.</p><p>-</p><p>Combined January and February data are published for most Chinese economic indicators to flatten out distortions from the shifting timing of the Lunar New Year.</p>

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

Source: China January - February Industrial profits -22.9% y/y (vs. prior -4.0%)

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