Chinese industrial enterprises' profit fell 2% year over year in August, following a 2.6% annual increase in July, according to the National Bureau of Statistics.
The bureau cited a slowdown in industrial production and sales growth, weaker ex-factory prices and natural disasters as factors that contributed to the decline.
In the first eight months of the year, industrial profit fell 1.7%, matching the same rate of decline as in the seven months to July. Profit at manufacturing enterprises fell 3.2% year over year, while those at automobile enterprises plunged 19.0%. Mining companies' profit rose 2.1%.
The report takes into account industrial enterprises with an annual revenue from principal business that is more than 20 million yuan.
