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China's industrial profits growth slows

China import
Asia   Slowing corporate profits will put pressure on jobs

Profit growth at China's industrial firms slowed for the fifth consecutive month in September.


The slowdown was in line with data last week that showed September's factory output grew at the weakest pace since February 2016.

Slowing corporate profits will put pressure on jobs, ultimately tapping the brakes on household consumption and hurting China's overall growth.

Industrial profits rose 4.1 percent in September from a year earlier to 545.5 billion yuan ($78.57 billion), the National Statistics Bureau (NBS) said on Saturday. That was less than half of the pace in August, and the slowest since March.

 

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