China’s Industrial Profits Shrink in April, Add to Pressure on Economy

A worker stands next to robotic arms welding pump truck part at a factory of the Foton Loxa Heavy Machinery Co. in Zhangjiakou, Hebei Province, China, on May 24, 2019. Reuters

BEIJING—Profits for China’s industrial firms shrank in April as slowing manufacturing activity halted the previous month’s surge, putting more pressure on policymakers to step up support for an economy hit by a bitter trade war with the United States.

Earnings at China’s key manufacturing sector have been declining since November 2018, with the exception of March, as both domestic and global demand slackened.