In November, Industrial Profit Growth Increased From Negative To Positive, And The Profit Margin Of Textile Industry Narrowed.

The National Bureau of statistics released today (27) financial data of industrial enterprises. In November, the total profit of Industrial Enterprises above designated size increased by 5.4% over the same period last year, and the growth rate was negative. The profits from petrochemical, steel and other key industries were significantly warmer, and the profit growth rate of consumer goods manufacturing industry accelerated.

Data show that in November, the total profit of Industrial Enterprises above designated size increased by 5.4% over the same period last year, and the growth rate was negative. The cumulative profit decline from 1 to November also narrowed compared with 1 - October.

From the industry perspective, mainly affected by market demand recovery, product prices and other factors, chemical, petroleum processing, steel and other key industries sales growth accelerated, profits significantly warmer. In November, the profit of chemical raw materials and chemical products manufacturing decreased by 151.5 percentage points over the same period in October, while the profit growth rate of oil, coal and other fuel processing industries was negative.

In November, the profit of consumer goods manufacturing increased by 8.2% over the same period last year, and the rate of increase was 3.1 percentage points faster than that in October. Among them, the profit growth of food manufacturing, paper making and paper products industry accelerated, and the profit margins of textile industry narrowed.

It is worth mentioning that in November, the profits of state holding enterprises increased by 0.6% over the same period last year, reversing the trend of continuous decline since the second half of this year, and the profit growth rate of foreign-invested enterprises and Hong Kong, Macao and Taiwan investment enterprises has been shifted from negative to positive, and the profit growth of private enterprises and small businesses has accelerated.