Chinese industrial profits fall in July

Chinese industrial profits fall in July

By JOE McDONALD The Associated Press
Published Aug 27, 2012 10:57AM MDT
Beijing • Profits at China’s industrial companies tumbled in July for a fourth straight month, a sign of enduring economic weakness that adds to pressure on Beijing to drive a sluggish recovery. Total industrial profits declined 5.4 percent compared with a year earlier, accelerating from June’s 1.3 percent fall, government data showed Monday. That might hurt investment, a key part of Beijing’s recovery plan for China’s deepest slump since the 2008 global crisis. The decline follows July’s collap...
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