CITIC Securitiesresearch reportIt was pointed out that from January to September 2023, the profits of industrial enterprises above designated size fell by 9.0% year-on-year, and the rate of decline narrowed by 2.7 percentage points from the previous value. Structurally, from January to September 2023, the profit decline in the raw materials industry narrowed significantly, and the profits of the consumer goods manufacturing industry continued to improve. We expect that PPI year-on-year readings may continue to rise slowly in the coming months. In addition, foreign trade exports are expected to continue to pick up in October. High-frequency data also shows that most industrial enterprises’ operating rates have maintained year-on-year improvements since October. To sum up, it is expected that the cumulative decline in profits of industrial enterprises will continue to narrow in the short term.
(Source of article: Financial Associated Press)
Source of article: Financial Associated Press
Original title: CITIC Securities: It is expected that the cumulative decline in profits of industrial enterprises will continue to narrow in the short term
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2023-10-29 09:00:12
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