CXSE - China: Industrial Profits Hit A 25-Month High Amid Signs Of Bottoming Out
2024-03-27 05:20:00 ET
Summary
- China's industrial profits reached a 25-month high of 10.2% YoY YTD in the first two months of 2024.
- Combined with earlier industrial production data, we see positive signs for industrials having bottomed out.
- If the recovery of manufacturing continues, it would contribute toward reaching the 2024 growth target, but more supportive policies are still needed to sustain the momentum and recovery.
By Lynn Song
Industrial profits recovered to positive growth
Industrial profits rose from -4.3% YoY in 2023 to 10.2% YoY YTD through February 2024. This was the first positive growth since June 2022 and was also the highest growth rate since December 2021....
China: Industrial Profits Hit A 25-Month High Amid Signs Of Bottoming Out