China's Industrial Profits Drop Further

China's Industrial Profits Drop Further

China's industrial profits fell 2.1% in January-August, widening from the 1.1% drop recorded in the first seven months of the year, data from the National Bureau of Statistics bureau showed. The bigger year-on-year decline comes after China reported improved factory production, which rose 4.2% on year in August compared with July's 3.8% growth. The statistics bureau stopped releasing monthly year-on-year industrial-profit figures last month, when the metrics likely turned negative.