BEIJING—Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery. The 18.8 percent year-on-year slump in profits came on top of the 20.6 percent contraction in January-April, and added to evidence of…
Shenzhen’s Resident Population Falls for First Time Since City’s Founding in 1979
China’s tech hub Shenzhen saw its population drop by 19,800, which was the first population drop since the city was established in 1979. An economist believes that the population decline can be attributed to the harsh zero-COVID policy, China’s decoupling from the United States, and the relocation of the industrial chain, which have led to…
Infineon Raises 2023 Outlook on Automotive and Industrial Strength
FRANKFURT—German chipmaker Infineon has raised its outlook for both its financial second quarter and the whole of 2023, it said on Tuesday, citing “resilient business dynamics” at its automotive and industrials divisions. The group said it now expected 2023 sales significantly above the 15.5 billion euros ($16.8 billion) forecast previously. It said there would be…
At Least 5 Killed, 8 Missing in North China Chemical Plant Explosion
BEIJING—A massive explosion at a chemical plant in northeastern China killed at least five people and left eight missing, state broadcaster CCTV said Monday. More than 30 other people were injured in the explosion Sunday on the outskirts of the city of Panjin in Liaoning province east of the capital, Beijing. The actual number of…
German Industrial Orders Fall More Than Expected in November
BERLIN—German industrial orders saw their sharpest drop in more than a year in November on falling foreign demand, decreasing by 5.3 percent on the month on a seasonally and calendar adjusted basis, the federal statistics office said on Friday. A Reuters poll of analysts had pointed to a 0.5 percent fall, after a downwardly revised…
China Trading Company Fire Kills at Least 38, 4 Detained
BEIJING—Four people have been detained over a fire at an industrial trading company in central China that killed 38 people, reports said Wednesday. The fire Monday was caused by welding sparks that ignited cotton cloth being stored at a facility run by the firm Kaixinda, authorities said. Two of the company’s employees and two from…
German Industrial Orders Drop in September as Foreign Demand Dives
BERLIN—German industrial orders fell by more than expected in September as foreign demand slumped, putting Europe’s largest economy on course for recession, data showed on Friday. New orders fell by 4.0 percent on the month on a seasonally and calendar adjusted basis, the Federal Statistics Office said. A Reuters poll of analysts had pointed to…
Strong Domestic Demand Boosts German Industrial Orders in December
February 4, 2022
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BERLIN—German industrial orders grew more than expected in December, data showed on Friday, with a boost from stronger domestic demand a cause for optimism for the growth outlook of Europe’s largest economy. Orders for goods grew 2.8 percent on the month in seasonally adjusted terms after a revised increase of 3.6 percent in November, figures…
German Industrial Orders Bounce Back on Strong Foreign Demand
BERLIN—Higher demand from abroad drove a bigger-than-expected rebound in German industrial orders in November, in rare good news for manufacturers suffering from supply bottlenecks and labor shortages in Europe’s largest economy. Goods orders rose 3.7 percent on the month in seasonally adjusted terms after a revised drop of 5.8 percent in October, figures from the…
Weaker Foreign Demand Sinks German Industrial Orders in October
December 6, 2021
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BERLIN—Weaker demand from abroad drove a much bigger than expected drop in German industrial orders, including cars, in October, data showed on Monday, further clouding the growth outlook for manufacturers in Europe’s largest economy. A pandemic-related scarcity of microchips and other electronic components has caused massive supply bottlenecks and production problems in Germany’s mighty automobile…
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