China's industrial profits fell 9.9% in October year-on-year to 427.56 billion yuan ($60.74 billion), data released by the National Bureau of Statistics showed on Wednesday. That marks the biggest drop since the January-February period and compared with a 5.3% decline in September. China’s industrial sector has been under pressure in recent months as slowing demand at home and the fallout from the Sino-U.S. trade dispute undercut earnings. “The big drop in October profits suggests the real economy is still facing plenty of difficulties,” said Nie Wen, an economist at Shanghai-based Hwabao Trust, adding that the country’s industrial firms now face a double whammy of falling prices and higher funding costs. “Profit growth is expected to stay negative for a period of time in the future, likely prompting authorities to unveil more growth-boosting measures in a gradual and restrained way.”