China's industrial profits rise 4.2% in August, missing forecasts sharply

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China's industrial profits rise 4.2% in August, missing forecasts sharply
Photo: Chinatopix/AP/TT

Analysts had expected an average profit growth rate of 8 percent, according to Bloomberg.

The decline is significant compared with the profit growth rate during the first eight months of the year as a whole, which, according to the statistics office, was 15.7 percent.

Weak domestic demand and reduced investment in manufacturing, property development and the construction sector explain part of the slowdown.

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By TT News Agency. English edition by Sweden Herald, adapted for our readers

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