China’s industrial profits increased at a faster pace of June as easing of the [coronavirus][1] containment measures boosted manufacturing activity, data from the National Bureau of Statistics showed Monday.
Industrial profits grew 11.5 percent on a yearly basis in June, following a 6 percent rise in May.
Profits of steel 35.3 percent and that of non-ferrous metals grew 24.1 percent in June.
Nonetheless, the statistical office said the sustainability of industrial profits is uncertain, the statistical office.
In the first half of 2020, industrial profits declined 12.8 percent from the same period last year.
Iris Pang, an economist at ING said the decline in Covid-19 cases and relaxation of restrictions are positive for domestic demand and for related manufacturing activity.
Some recovery from Covid-19 in parts of the rest of the world will also have helped China’s manufacturing output and profitability in June, the economist said.
For comments and feedback contact: editorial@rttnews.com
[Economic News][2]
What parts of the world are seeing the best (and worst) economic performances lately? Click[here][3] to check out our [Econ Scorecard][3] and find out! See up-to-the-moment rankings for the best and worst performers in [GDP][3], [unemployment rate][4], [inflation][5] and much more.
- www.rttnews.com/list/coronavirus.aspx
- www.rttnews.com/Content/EconomicNews.aspx
- www.rttnews.com/economic-scorecard/world-rank/GDP/highest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/unemployment-rate/lowest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/CPI/highest-performance.aspx