China November Industrial profit Year to Date (YTD) -4.7% y/y (prior -4.3%)
The move month alone m/m was -7.3%, extending its decline to a fourth straight month. But, October was -10% ,so a slower pace of fall in November.
China is the world's second-largest economy. It continues to face challenges in its post-pandemic recovery, including
weak consumer and business investmenta prolonged housing market slumpand new trade risks associated with the incoming U.S. administrationweak domestic demandTo counter these challenges, China's policymakers have pledged to enhance economic support, including raising the fiscal deficit, issuing more debt, and loosening monetary policy. Measures include plans for record $411 billion special treasury bonds in 2024 and increased fiscal support for consumers and social security programs.
I posted a few posts on info from China over the break earlier:
Catch up - World Bank raised its 2024 China growth forecast to 4.9%, from 4.8% previouslyCatch up - Further supportive measures in store for China housing sector in 2025Catch up - China revises up 2023 GDP by 2.7% from previous estimateICYMI: China's top legislature set to convene annual session on 5 March next yearChinese People's Political Consultative Conference (CPPCC) on March 4China's National People's Congress will be held March 5, 2025People's Bank of China injects 300 bn yuan in a 1 year MLF at unchanged rate of 2.00%China has passed a law introducing a value added tax. Will take effect on January 1 2026 according to Xinhua .... another year away This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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