China data over the weekend - April industrial profits +21.9% y/y
- March was +3.1% y/y
Higher prices, stronger demand cited as reasons for the strong result (best in half a year). I've also seen "higher profits" cited as a reason for the, ummm …. higher profits. Well, yeah. Having scoffed … better profit margins also cited.
Anyway, just an FYI ICYMI.