BEIJING: Profits at China's industrial firms rose for a fifth straight month in September, but at a slower pace as factory-gate deflation and rising raw materials costs undercut a recovery in the manufacturing sector.
China's economic rebound has been gaining momentum following the sharp COVID-19-driven downturn thanks to strong exports, pent-up demand and government stimulus, but slower-than-expected third quarter gross domestic product growth highlighted pockets of weakness for one of the few drivers of global demand.
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