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China’s Industrial Profit Gains Dip in Sign of Weakness
Industrial profits in China rose 21.1% year-on-year in May, down from 24.7% in April. High-tech manufacturing and electronics sectors drove growth, while automobiles and furniture saw declines. The slowdown reflects a struggle to offset weak domestic demand with exports and price gains.
What changed
Profit growth slowed for the first time since November, dropping from 24.7% in April to 21.1% in May.
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China Industrial Profit Growth Slows in May 2026
confidence 90%Industrial profits in China rose 21.1% year-on-year in May, down from 24.7% in April. High-tech manufacturing and electronics sectors drove growth, while automobiles and furniture saw declines. The slowdown reflects a struggle to offset weak domestic demand with exports and price gains.
What's confirmed:
- Industrial profits increased 21.1% year-on-year in May 2026.
- Profit growth in April was 24.7%.
- Electronics and high-tech manufacturing sectors led profit growth.
- Profits in the automobile and furniture sectors declined.
- May's growth rate marked the first slowdown since November.
Still unconfirmed:
- Profits of major industrial firms were up 18.8% year-on-year from January to May 2026.
- Industrial profits experienced their steepest drop in over a year, increasing pressure for 2026 stimulus.
- The electronics sector surged 103.9% in May.
- Industrial profits for the January-July period dropped 1.7% year-on-year to 4.02 trillion yuan.