China December 2024 Industrial Profits +11% y/y
prior -7.3%Industrial Profits YTD -3.3% (ie in 2024 profits fell 3.3% y/y, worse than the 2.3% decline for the entire 2023)
We also had January 2025 PMIs, which were well below estimates:
China official PMI data for January 2025: Manufacturing 49.1 (expected 50.1)---
Industrial profit numbers cover firms with annual revenues of at least 20 million yuan ($2.74 million) from their main operations.
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