Fri, Sep 26 21:58 PM EDT
SHANGHAI (Reuters) – China’s industrial profits fell 0.6 percent in August from a year earlier, reversing from July’s 13.5 percent annual rise, data showed on Saturday.
Profits rose 10 percent between January and August compared to the same period last year. China’s National Bureau of Statistics did not give a reason for the August decline.
China’s economy has had a difficult time this year as a slowdown in the housing market weighs on economy activity. This was further exacerbated by unsteady foreign demand which dragged on exports, factory output and domestic investment.
(Reporting by Brenda Goh and Samuel Shen; Editing by Nick Macfie)