Industrial Profits Down

China's November industrial profits suffer sharpest fall in 27 months

Chinese industrial profits dropped 4.2 percent in November to 676.12 billion yuan ($108.85 billion), official data showed on Saturday, the biggest annual decline since August 2012 as the economy hit major unexpected headwinds in the second half.

Despite last month's drop, profits for January-November were 5.3 percent higher than in the first 11 months of 2013, according to the National Bureau of Statistics (NBS) data.

The NBS attributed November's profit drop to declining sales and a long-running slide in producer pricing power.

From the NBS, sales in yellow, profits in blue:

Mining profits are down 21.6%. State owned companies down 3.5%. Private industry up 7.2%. More here.