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China Industrial Companies' Profits Drop for Third Month
Jul 27th 2012, 03:08

Chinese industrial companies' profits fell for a third month in June, a government report showed today, as decelerating growth in the world's second- biggest economy hurt corporate earnings. Income fell 1.7 percent from a year earlier to 467.2 billion yuan ($73 billion), the National Bureau of Statistics said on its website today. That compares with a 5.3 percent decline in May and 2.2 percent drop in April. Today's data underscore the impact on corporate earnings of an economic slowdown that may extend into a seventh quarter, increasing pressure on Premier Wen Jiabao to roll out additional stimulus. The government will...

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