China industrial profits in April -3.7% y/y (March was an outlier at +13.9%)

I managed to get a chance to post a bit of background to this data point earlier here:


The surge in March was against a clearly weakening trend and the number for April has come back into line, a big ‘give back’ added in there also.
For the YTD (I.e. January to Aopril), down 3.4% y/y