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Economy
In reply to the discussion: Weekend Economists Revelations and Reviews April 26-28, 2013 [View all]xchrom
(108,903 posts)36. China Industrial Companies’ Profit Growth Slows as Economy Cools
http://www.bloomberg.com/news/2013-04-27/china-jan-march-industrial-companies-profit-rises-12-1-.html
Growth in Chinese industrial companies profits slowed in March, adding to evidence the nations economic recovery is losing steam.
Net income increased 5.3 percent from a year earlier to 464.9 billion yuan ($75 billion), down from a 17.2 percent pace in the first two months, the National Bureau of Statistics said on its website yesterday. Profit in the first quarter rose 12.1 percent to 1.17 trillion yuan, it said.
Chinas stocks fell for a third straight month in April amid investor concern that the recovery in the countrys economic expansion is losing momentum and will hurt corporate earnings. The benchmark Shanghai Composite Index (SHCOMP) closed 1 percent lower on April 26, the last trading day before a three- day holiday ending May 1.
Profits are only growing in line with sales and with problems of overcapacity and the sluggish global picture, it doesnt bode well for a speedy return to higher profit margins, said Louis Kuijs, chief China economist at Royal Bank of Scotland Group Plc in Hong Kong. Heavy industries especially still face destocking and higher costs, but if there is a silver lining, industries catering to the consumer, like textiles, food and beverages, seem to be doing much better.
Growth in Chinese industrial companies profits slowed in March, adding to evidence the nations economic recovery is losing steam.
Net income increased 5.3 percent from a year earlier to 464.9 billion yuan ($75 billion), down from a 17.2 percent pace in the first two months, the National Bureau of Statistics said on its website yesterday. Profit in the first quarter rose 12.1 percent to 1.17 trillion yuan, it said.
Chinas stocks fell for a third straight month in April amid investor concern that the recovery in the countrys economic expansion is losing momentum and will hurt corporate earnings. The benchmark Shanghai Composite Index (SHCOMP) closed 1 percent lower on April 26, the last trading day before a three- day holiday ending May 1.
Profits are only growing in line with sales and with problems of overcapacity and the sluggish global picture, it doesnt bode well for a speedy return to higher profit margins, said Louis Kuijs, chief China economist at Royal Bank of Scotland Group Plc in Hong Kong. Heavy industries especially still face destocking and higher costs, but if there is a silver lining, industries catering to the consumer, like textiles, food and beverages, seem to be doing much better.
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I see someone noticed that we noticed they were not posting bank failures, well done.
kickysnana
Apr 2013
#17
Our new Chair of the Florida Democratic Party was a lobbyist for ChoicePoint in 2000.
Fuddnik
Apr 2013
#31
Also ex-mployees who have survived the worst will not do anything to keep their jobs.
kickysnana
Apr 2013
#18