Chinese industrial companies saw their earnings grow at the fastest pace in three months, with profits at large industrial firms up 14.4% in September from a year earlier, a sharp jump from 4.2% in August and above Bloomberg Economics’ 12% forecast.
Electronic special materials makers saw profits more than triple, while semiconductor equipment makers rose 51.7%, and the data-centre buildout sent optical fibre makers’ profits more than sixfold higher.
Oil helped too: factory-gate prices rose 5% in September, the fastest pace since 2022.
Consumers are the weak spot. Retail sales grew by only 1.1% in September.