China industrial revenue growth slows
In April, revenue growth in Chinese industrial companies slowed in line with other data for the month, suggesting the country’s economy might be losing its steam once again right after gaining earlier this year.
Last month, the country’s industrial companies managed to generate up to 502 billion Yuan in revenues, up 4.2% from the same period of 2015 and compared to growth of 11.1% in May, according to the National Bureau of Statistics.
For the first four months of 2016, revenues hit 1.84 trillion Yuan or a 6.5% surge from the previous year, but down from a 7.4% soar in the first quarter. The data actually covers large companies with the annual profit of 20 million Yuan.
Product inventories at industrial companies edged down 1.2% year-on- year at the end of April, the first descend in recent years, as the statistics bureau states.
A return to revenue growth early in 2016 and a rebound in commodities prices, including steel had powered expectations that Chinese industrial sector was finally reviving right after a protracted downturn, dragging on the number two economy.