RTTNews | May 27, 2021 04:49AM EDT

04:49 Thursday, May 27, 2021 (RTTNews.com) - China's industrial profits logged a sharp increase in January to April period, data released by the National Bureau of Statistics revealed on Thursday.

Industrial profits increased by 106 percent in January to April period from the same period last year.

In April, industrial profits were up 57 percent annually. However, this was much slower than the 92.3 percent expansion seen in March. This slowdown was largely caused by rising commodity prices.

Data released last month showed that growth momentum in China's manufacturing sector picked up in April with firms reporting the strongest increases in output and sales for four months. The factory Purchasing Managers' Index rose to 51.9 in April from 50.6 in March.

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