China's November Industrial Profits Suffer Sharpest Fall In 27 Months

(Reuters) - Chinese industrial profits dropped 4.2 percent in November to 676.12 billion yuan ($108.85 billion), official data showed on Saturday, the biggest annual decline since August 2012 as the economy hit major unexpected headwinds in the second half. Despite last month's drop, profits for January-November were 5.3 percent higher than in the first 11 months of 2013, according to the National Bureau of Statistics (NBS) data.