Close Menu
Bangla news
    Facebook X (Twitter) Instagram
    Bangla news
    • প্রচ্ছদ
    • জাতীয়
    • অর্থনীতি
    • আন্তর্জাতিক
    • রাজনীতি
    • বিনোদন
    • খেলাধুলা
    • শিক্ষা
    • আরও
      • লাইফস্টাইল
      • বিজ্ঞান ও প্রযুক্তি
      • বিভাগীয় সংবাদ
      • স্বাস্থ্য
      • অন্যরকম খবর
      • অপরাধ-দুর্নীতি
      • পজিটিভ বাংলাদেশ
      • আইন-আদালত
      • ট্র্যাভেল
      • প্রশ্ন ও উত্তর
      • প্রবাসী খবর
      • আজকের রাশিফল
      • মুক্তমত/ফিচার/সাক্ষাৎকার
      • ইতিহাস
      • ক্যাম্পাস
      • ক্যারিয়ার ভাবনা
      • Jobs
      • লাইফ হ্যাকস
      • জমিজমা সংক্রান্ত
    • English
    Bangla news
    Home China industrial pofits drop as Covid outbreaks slow output
    English International

    China industrial pofits drop as Covid outbreaks slow output

    জুমবাংলা নিউজ ডেস্কDecember 29, 20222 Mins Read
    Advertisement

    BUSINESS DESK: Profits at industrial firms in China declined in the first 11 months of the year, as production slowed and factory-gate prices fell amid Covid disruptions.

    Industrial profits in the January-November period fell 3.6% from a year earlier, the National Bureau of Statistics said Tuesday. That compared with a decline of 3% in the first 10 months of the year.

    “Industrial production slowed down and business operation pressure increased in November due to factors such as a resurgence in Covid cases and insufficient demand,” NBS senior statistician Zhu Hong said in an accompanying statement.

    The oil, coal and other fuel processing industry saw profits plummet 74.9% on year in January-November, while the ferrous metals smelting and pressing sector suffered a 94.5% slump, according to NBS data. China’s weakening demand for steel amid Covid outbreaks and a persisting property crisis has forced mills to cut output, Bloomberg reported previously.

    The NBS did not release single-month data for November. Bloomberg calculations based on NBS data show industrial profits dropped 8.9% last month from a year ago.

    The figures provided yet another sign of the weakness in China’s economy last month when strict movement restrictions were still in place to contain Covid outbreaks. Growth in industrial output slowed to the weakest since May in November, while factory-gate prices continued to contract.

    The economy is bracing for increasing strain after the government abruptly dropped its Covid Zero policy. Soaring infections across the country are keeping people home, causing a slump in travel and economic activity.

    Looking ahead, Covid case spikes will curb the recovery of industrial profits in the short term and the sector remains to be pressured by contracting demand, supply chain shocks and weakening expectations, Zhu said. “We must better coordinate Covid controls and economic and social development, ensure industrial and supply chain smoothness and take effort to expand domestic demand,” Zhu said.

    Economists surveyed by Bloomberg project expansion of the world’s second-largest economy will moderate to just 3% this year, the slowest rate since the 1970s barring 2020’s pandemic plunge, before picking up to 4.9% in 2023.

    Profits at foreign firms declined 7.8% in the first 11 months of the year, worsening from a 7.6% decrease in the first 10 months of 2022. Private firms, meanwhile, saw their profits sink 7.9%, while those of state-owned enterprises were up 0.5%. (Bloomberg)


    iNews covers the latest and most impactful stories across entertainment, business, sports, politics, and technology, from AI breakthroughs to major global developments. Stay updated with the trends shaping our world. For news tips, editorial feedback, or professional inquiries, please email us at [email protected].

    Get the latest news first by following us on Google News, Twitter, Facebook, Telegram , and subscribe to our YouTube channel.

    as china covid drop english industrial international outbreaks output pofits slow
    Related Posts
    Fact Check: Did D4vd confess?

    D4vd Investigation Twist: What ‘Sadistic’ Discovery Was Found Inside His $20K L.A. Home After Teen’s Death?

    October 29, 2025
    former nurse arrested

    Former Nurse Arrested in Sheppard Pratt Hospital Sexual Assault Case

    October 28, 2025
    Geologist solo album

    Geologist Announces Debut Solo Album “Can I Get a Pack of Camel Lights?”

    October 28, 2025
    সর্বশেষ খবর
    Fact Check: Did D4vd confess?

    D4vd Investigation Twist: What ‘Sadistic’ Discovery Was Found Inside His $20K L.A. Home After Teen’s Death?

    former nurse arrested

    Former Nurse Arrested in Sheppard Pratt Hospital Sexual Assault Case

    Geologist solo album

    Geologist Announces Debut Solo Album “Can I Get a Pack of Camel Lights?”

    UAE Minister's Hindi Speech Strengthens India-UAE Cultural Ties

    UAE Minister’s Hindi Speech Strengthens India-UAE Cultural Ties

    Detroit Lions Rookie Isaac TeSlaa Remains a High-Risk Fantasy Football Option

    Detroit Lions Rookie Isaac TeSlaa Remains a High-Risk Fantasy Football Option

    Gotham Awards

    Gotham Awards Nominations: “One Battle After Another” Sets Record with Six Nods

    Didi Conn Reflects on Working with Ringo Starr on Beloved Children's Show

    Didi Conn Reflects on Working with Ringo Starr on Beloved Children’s Show

    Portia Robinson

    Portia Robinson Pregnancy Confirmed on General Hospital, Sparks Curtis Ashford Drama

    Swarovski Hollywood Exhibition Opens with Iconic Costumes and Crystal Displays

    Swarovski Hollywood Exhibition Opens with Iconic Costumes and Crystal Displays

    Tesla Robotaxi Launch Delayed as Musk Pivots to "Cybercab" Design

    Tesla Robotaxi Launch Delayed as Musk Pivots to “Cybercab” Design

    • About Us
    • Contact Us
    • Career
    • Advertise
    • DMCA
    • Privacy Policy
    • Feed
    • Banglanews
    © 2025 ZoomBangla News - Powered by ZoomBangla

    Type above and press Enter to search. Press Esc to cancel.