Industrial profits slide in China.

 Profits at Chinese industrial firms rose only 5.3% year-over-year in March, down markedly from the 17.2% pace logged in January and February. Overall, industrial profits rose 12.1% during the three month period. The slowdown mirrored that witnessed in Chinese auto sales which grew 11% year-over-year in March after rising 15% in each of the two previous months. Some worry the slower pace of growth could discourage capital spending and hiring. China's official PMI is due Wednesday.