China industrial profits improve from April - a welcome sign
For January to May profits had dropped 2.3% y/y (January to May was -3.4% y/y)
The slide is the result of a slowing economy, slowing trade, PPI lower.
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China industrial profits for May: +1.1% y/y (prior -3.7%)
China industrial profits for May: +1.1% y/y (prior -3.7%)
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