Industrial profits continued to decline in October

Industrial profits continued to decline in October

the financial data of industrial enterprises released by the National Bureau of statistics on November 27 showed that the total profits of Industrial Enterprises above Designated Size fell by 2% year-on-year in October, an increase of 0.3 percentage points over the month. Among them, the profit in October decreased by 4.6%, 4.5 percentage points higher than that in September

compared with previous months, the impact of investment income, exchange losses and oil special income on enterprise profit fluctuations is significantly weakened. The main reasons for the decline in profits in October:

from the perspective of sales, product sales fell further. In October, due to the slowdown of production growth and the decline of product prices, the main business income of Industrial Enterprises above Designated Size, which is also a relatively deep funded engineer, decreased by 1.4%, an increase of 0.9 percentage points over September, and has shown negative growth for two consecutive months

in terms of costs, unit costs and expenses have increased. In October, the cost of industrial enterprises per 100 yuan of main business income was 85.84 yuan, an increase of 0.04 yuan year-on-year; The expenses per 100 yuan of main business income totaled 7.2 yuan, an increase of 0.18 yuan

from the perspective of industry, the profits of oil mining, steel, coal and other mining and raw materials industries decreased significantly. In October, the oil and gas exploitation industry achieved a profit of 1.63 billion yuan, a year-on-year decrease of 24.54 billion yuan; Ferrous metal smelting and rolling processing industry lost 1.55 billion yuan, with a profit of 16.45 billion yuan in the same period last year; The coal mining and washing industry realized a profit of 6.96 billion yuan, a year-on-year decrease of 6.34 billion yuan. The profits of these three industries decreased by 48.88 billion yuan, which benefited all enterprises above Designated Size, thus promoting the demand growth of extrusion equipment and 1.8 times the reduction

it is worth noting that while the overall industrial profit has declined, the industrial profit in line with the direction of transformation and upgrading has maintained that we can be used for lithium-ion batteries, capacitors and other energy storage devices, which can be customized for customers, with a good growth. In October, the profits of high-tech manufacturing industry increased by 14.2%, equipment manufacturing industry increased by 8.6%, and consumption related industries increased by 4.3%. In addition, the inventory growth of enterprises tends to slow down, which is conducive to easing the pressure of production and operation in the future. At the end of October, the inventory of finished products increased by 4.5% year-on-year, and the growth rate decreased by 0.4 percentage points compared with that at the end of September, showing a further slowing trend