The US dollar is heading for the best week in three. The market sentiment is mixed as optimism about the global economic recovery was outshined by increasing tensions between the West and China.
The profit of the largest industrial companies of China soars by 22% in April
The profit of large industrial companies of China in April 2018 increased by up to 21.9% in contrast with the same month of 2017 – approximately 576 billion Yuan, as the State Statistical Office informed. The given recovery has appeared to be the maximum since October. Apparently, the rate of profit growth speeded up from 3.1% in March. At the same time the previous month the profit increase was the weakest for 21 months.
As a matter of fact, the revenue of the leading industrial businesses in China in January-April also pushed the recovery, which was 15% in annual terms versus 11.6% in the first quarter. In the first four months of 2018, it accounted for 2.13 trillion Yuan.
At the same time, revenue surge in January-April turned out to be weaker than the 24.4% recorded for the same period of 2017.
According to the employee GSU Ho Ping, fast surge in revenue of industrial businesses is associated with increased production and sales and also higher prices for industrial products, as Xinhua news agency uncovered.
Among 41 branches in 29 there was an ascend in revenue in January-April. Recovery was most visible in the steel industry, the chemical industry and the automotive industry. In addition to this, in the production of computers and communications, the profit of companies for four months fell by 5.3%.
At the end of April, the debt ratio of industrial companies of the world’s number two economy was 56.5%, which happens to be just 0.7% lower than in 2017.
By the way, the previous year the revenue of China's industrial companies enterprises increased by about 21% - to up to 7.52 trillion yuan. Well, the given ascend appeared to be the fastest since 2011.
Rising yields, potential US tax hikes, and inflation fears worry investors. As a result, the market sentiment is risk-off. Stocks are falling, while the USD and the JPY are edging higher.
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