Chinas industrial profit growth quickens amid virus outbreaks – Reuters

REUTERS/Thomas PeterRegister now for FREE limitless access to Reuters.comRegisterChina March industrial earnings +12.2% y/y – Reuters calculationsChina Jan-March industrial revenues +8.5% y/yBEIJING, April 27 (Reuters) – Profits at Chinas industrial companies grew at a much faster speed in March from a year previously, regardless of the unfavorable effect on the economy from COVID-19 outbreaks and the Ukraine war, main data revealed on Wednesday.Profits in March were up 12.2% on year ago levels, according to Reuters estimations based on information from the National Bureau of Statistics (NBS). The speed of revenue growth accelerated from the first 2 months of the year. Industrial profits in the combined January-February period were 5% greater than a year earlier.Register now for FREE endless access to Reuters.comRegisterFor January-March, industrial companies profits were up 8.5% on a year prior to, down 3.8 portion points compared with the last quarter in 2021, according to the NBS.Chinas gross domestic item broadened by 4.8% in the very first quarter from a year previously, beating analysts expectations, and quickened from 4.0% in the fourth quarter.

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