China’s industrial profits unexpectedly jumped 15.5 percent in May from the same month last year, the National Bureau of Statistics said on Thursday, beating consensus forecasts.
Industrial firms in China generated profits of 470.6 billion yuan ($76.1 billion) in the month, bringing total profits from January-May to 2.08 trillion yuan, up 12.3 percent from the year-ago period.
The rise in May was substantially higher than the previous April’s year on year rise of 9.3 percent, and much better than analyst expectations of 7-8 percent.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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