China Industrial Profits reported at +92.3% y/y by the newswires.
There is a large 'base effect' component to this, March 2020 saw China plunged into lockdown.
For the YTD (January - March) comes in at +137% y/y
- prior +178.9%
- and, compared with 2019 +50.2%
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Later this week we'll get the official manufacturing and non-manufacturing PMIs for April from China.
more to come
