China Industrial Profit Growth Eases Amid Deflation Pressures

(Bloomberg) — Profits at China’s industrial companies rose at a much slower pace in October than the prior month as deflationary pressures persisted, suggesting the economic recovery remains fragile in the final stretch of 2023.

Industrial profits increased 2.7% from a year ago, according to data published by the National Bureau of Statistics on Monday. The pace eased significantly from September’s 11.9% gain and August’s 17.2% jump.