China Industrial Profits Increase

(RTTNews) - China's industrial profits increased at a slower pace in July but the overall increase remained strong through July, the National Bureau of Statistics reportedly said Thursday.

Industrial profits logged an annual growth of 11.2 percent in July, the slowest growth seen so far this year.

During January to July, industrial profits advanced 17.6 percent from the same period of last year. Profits had increased 18.7 percent in the first half of the year.

Data released earlier this month showed that China's producer prices inflation moderated to 3.5 percent in July from 4.1 percent in June, which was the highest in nearly four-year high. Rising input costs pose risks to profit margins and also weigh on confidence.