In The First 10 Months, The Growth Rate Of Accumulated Profits Of Industrial Enterprises Above Designated Size Turned Positive

According to the data released by the National Bureau of statistics on November 27, from January to October, the profits of Industrial Enterprises above Designated Size nationwide reached 5012.42 billion yuan, an increase of 0.7% year-on-year, and a decrease of 2.4% from January to September. The year-on-year growth rate of accumulated profits turned from negative to positive for the first time.

Statistics show that, from January to October, more than 60% of the industrial profits increased. The profit of equipment manufacturing industry increased by 9.6% year-on-year, driving the profit of industries above Designated Size to increase by 3.2 percentage points, which was the largest contribution to the growth of industrial profits.

Zhu Hong, a senior statistician at the industry department of the National Bureau of statistics, said that from January to October, driven by domestic demand and the improvement of export situation, the profit of consumer goods manufacturing industry increased by 4.8% year-on-year, 0.4% faster than that from January to September.