China’s industrial profits fall, add to fears of slowdown

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 12%
  • Publisher: 63%

Industrial firms put off business decisions and cut manufacturing investment on escalating US-China trade dispute

South Africa Latest News, South Africa Headlines

Beijing — Profits earned by China’s industrial firms contracted in June after a brief gain the previous month, fuelling concern that a slowdown in manufacturing from a bruising trade war will drag on economic growth.

The drop in first-half profits was driven by declining profits in the automotive, oil processing and steel sectors, Zhu Hong of the statistics bureau said. The governments of the world’s largest economies have levied billions of dollars of tariffs on each other’s imports, disrupting global supply chains and shaking financial markets in the dispute over how China does business with the rest of the world.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Joburg's homeless live in fear after spate of killings in Pretoria | Sunday IndependentThe recent spate of killings of homeless people in Tshwane shocked Johannesburg’s homeless people, who admitted to living in fear for their lives.
Source: IOL - 🏆 46. / 51 Read more »

Protests in Hong Kong heat up amid fears of growing cycle of violence | IOL NewsHong Kong authorities stepped up security around the city's main China representative office on Sunday as people began gathering for another protest.
Source: IOL - 🏆 46. / 51 Read more »

Las Vegas residents urged to keep calm as 'grasshopper plague' sparks fear | IOL NewsLas Vegas expected another night of swarming grasshoppers after a Nevada state entomologist warned residents and visitors they will be around for a few weeks.
Source: IOL - 🏆 46. / 51 Read more »

Woman airlifted to hospital following fall in Magaliesberg mountainsThe Netcare 911 emergency operations centre received a call at 2.16pm for medical assistance.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

OPINIONISTA: South Africa’s foray into the Fourth Industrial Revolution: Let’s learn to walk before we try to flyPresident Cyril Ramaphosa wants South Africa to embrace the Fourth Industrial Revolution in order to solve the country’s chronic problems of poverty, unemployment and inequality. However, if we are to succeed in capitalising on this new revolution, we must first get the basics right. informative
Source: dailymaverick - 🏆 3. / 84 Read more »