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BEIJING, Sept 27 - Profits at China's industrial firms extended a double-digit drop for the first eight months, but the pace of declines eased slightly as a flurry of policy support steps has started to stabilise parts of the stuttering economy.
"This data reflected that domestic demand has stabilised and the demand and supply side has seen balanced recovery," said Bruce Pang, chief economist at Jones Lang Lasalle. As Beijing steps up policy support for its faltering economy after a brief post-COVID recovery, recent data have shown signs of stabilisation with stronger-than-expected bank lending, industrial output and retail sales growth for August.
The concern is that depressed confidence in the real estate sector could undermine the overall demand outlook for businesses and the economy.
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