China industrial firms’ May profits post first monthly rise in 6 months – ZAWYA
- Date: 28-Jun-2020
- Source: Zawya
- Sector:Financial Markets
- Country:UAE
China industrial firms’ May profits post first monthly rise in 6 months – ZAWYA
China industrial firms' May profits post first monthly rise in 6 months | ZAWYA MENA Edition HomeBusinessArticleChina industrial firms' May profits post first monthly rise in 6 months May's profit growth was aided by significant profit recoveries in key industries Image used for illustrative pourpose. A labourer hooks steel pipes onto a crane at a steel market in Taiyuan.SHANGHAI - Profits at China's industrial firms rose for the first time in sixth months in May, suggesting the country's economic recovery is gaining traction and brightening the outlook for manufacturing investment and jobs.China's national bureau of statistics said profits at China's industrial firms in May rose 6% year-on-year to 582.3 billion yuan ($82.28 billion), according to a statement on Sunday.The rebound followed a 4.3% fall in April, and is its sharpest monthly gain since March 2019.China's national bureau of statistics said profits at China's industrial firms in May rose 6% year-on-year to 582.3 billion yuan ($82.28 billion), according to a statement on Sunday.SHANGHAI - Profits at China's industrial firms rose for the first time in sixth months in May, suggesting the country's economic recovery is gaining traction and brightening the outlook for manufacturing investment and jobs.The rebound followed a 4.3%