BEIJING—Profits at China’s industrial firms contracted for the second straight month in September as producer prices continued their slide, highlighting the toll a slowing economy and protracted U.S. trade war are having taken on corporate balance sheets.
Industrial profits fell 5.3 percent in September from a year earlier to 575.6 billion yuan ($81.48 billion), data released by the National Bureau of Statistics (NBS) on Oct. 27 showed. That compared with a 2 percent decline in August.
