FX.co ★ China Industrial Profits Fall At Slower Pace

China's industrial profits experienced a reduced rate of decline in October, as indicated by official data released on Wednesday. According to the National Bureau of Statistics, industrial profits fell by 10% year-on-year in October, a notable improvement from the steep 27.1% drop reported in September. This positive change can be partially attributed to a low base of comparison. Over the January to October period, industrial profits contracted by 4.3% compared to the same period the previous year, following a 3.5% decrease recorded between January and September. Despite this slight improvement, profits continue to face significant pressures.