China’s Industrial Profit Growth Slows to Seven-Month Low in July

• China’s industrial profit growth slowed to 11.2% in July, a seven-month low.
• This marks the third consecutive month of deceleration.
• Cumulative profits for Jan-Jul rose 17.6%, down from 18.7% in H1.

China’s industrial profits expanded by 11.2% year-on-year in July, marking the weakest growth rate in seven months, according to data released on Thursday. This represents the third consecutive month of deceleration in industrial profit growth. For the period spanning the first seven months of the year, cumulative profits increased by 17.6% compared to the previous year, a decline from the 18.7% growth observed in the first half. This slowdown is attributed to a cooling economy, which has impacted both production levels and price gains. The data contributes to the ongoing assessment of China’s economic recovery strength by market participants.