China Industrial Profits reported at +92.3% y/y by the newswires.
There is a large ‘base effect’ component to this, March 2020 saw China plunged into lockdown.
For the YTD (January – March) comes in at +137% y/y (prior +178.9%)
Later this week we’ll get the official manufacturing and non-manufacturing PMIs for April from China.
more to come