BEIJING—Profits at China’s industrial firms shrank at their fastest pace in eight months in October, tracking sustained drops in producer prices and exports and underscoring slowing momentum in the world’s second-largest economy.
Industrial profits fell 9.9 percent in October year-on-year to 427.56 billion yuan ($60.74 billion), data released by the National Bureau of Statistics showed on Nov. 27, marking the biggest drop since January-February period and compared with a 5.3 percent decline in September.
