Gains of industrial firms in China declined by 8.4 percent in November
Date
12/27/2024 5:23:01 PM
(MENAFN) Industrial firms incomes in China decreased by 8.4 percent in November on an annual basis, pursuing the descending trend in the latest three months.
In line with a National Bureau of Statistics (NBS) report, the overall gains of industrial firms with an yearly income of than over 20 million yuan (about USD2.74 million) touched 6.67 trillion yuan (about $913 billion) in the January-November period of 2024.
The overall gains decreased by 4.7 percent in the first 11 months in comparison with to the same period in the previous year, in addition to the 4.3 percent decreased in the latest 10 months.
Value declined by 8.4 percent in government firms and 1 percent in private sector businesses.
Gains of industrial firms declined by 17.8 percent in August, 27.1 percent in September and 10 percent in October.
The decrease in industrial values indicates that continuing problems such as weak domestic demand, deflation and the decrease in the real estate sector pursue to negatively disturb economic improvement in China, which has the glob’s hugest industrial manufacture.
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