The latest data published by China’s National Bureau of Statistics (NBS) showed that profits earnt by China’s industrial firms in July rose 2.6 y/y vs. a 3.1% drop seen in June.
Commenting on the data, the Chinese National Bureau of Statistics (NBS) noted:
Downward economic pressures still relatively big despite positive industrial profit growth in July.
China needs to work harder on promoting stability of corporate profits.
The Aussie keeps its range around 0.6770 region despite upbeat Chinese data, meandering near daily lows of 0.6767 while the Kiwi in on the offers below the 0.64 handle.
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