Chinese industrial profits jump 10.2% in Jan-Feb

Investing.com-- Chinese industrial profits grew sharply in the first two months of 2024, reflecting some improvement in factory activity after a lull through most of the prior year, although the strong reading was also driven by a lower base for comparison. 

Industrial profit grew 10.2% year-on-year in the January-Feb period, compared with a 22.9% slide in the same period last year. Industrial profits also fell 4.4% year-on-year in December.

The reading reflected some improvement in industrial activity, especially in the wake of continued stimulus measures and supportive policies from Beijing. But the jump was also largely driven by a lower base for comparison, given that the country was still struggling with the aftermath of the COVID-19 pandemic in the same period in 2023.