the overall economic operation was stable in august, and the scale of major indicators in the first eight months expanded steadily with a stable growth rate
2024-09-14
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on september 14, the national bureau of statistics released a number of key macroeconomic data for august. the data showed that in august, production and demand continued to recover, employment and prices were basically stable, and the national economy maintained an overall stable and steady development trend.
liu aihua, spokesperson, chief economist and director of the department of comprehensive statistics of the national economy of the national bureau of statistics, pointed out that in august, production was generally stable and the upgrading trend continued; domestic demand continued to expand and the structure continued to be optimized; employment was generally stable and consumer prices rose slightly; foreign trade grew well and foreign exchange reserves continued to increase.
overall, the economy was running smoothly in august, and high-quality development was still advancing steadily. however, we should also see that the international environment is becoming more complex and severe, unstable, uncertain and unpredictable factors are increasing, and problems such as insufficient domestic demand are still emerging. there are pains in the conversion of new and old drivers, and some industries and enterprises are still facing difficulties in operation. from the overall situation in the first eight months, the scale of major indicators has steadily expanded, and the growth rate has been basically stable.
in terms of growth rate, the added value of industrial enterprises above designated size, the service industry production index, the total retail sales of consumer goods, and fixed asset investment increased by 5.8%, 4.9%, 3.4%, and 3.4% year-on-year respectively, which was generally stable compared with january-july. all these indicate that my country's current macroeconomic situation remains basically stable, and the "stable" trend of economic operation has not changed.
wang qing, chief macro analyst at orient securities, told the beijing news shell finance reporter that the "strong supply and weak demand" feature in the macro economy in august was still quite obvious. the strength of the current economic operation is mainly reflected in the strong export trend driven by the recovery of external demand, and the rapid development of new quality productivity represented by high-tech manufacturing, which has a significant driving effect on industrial production and manufacturing investment.
it is worth mentioning that the policy of stabilizing growth was fully implemented in july. however, judging from the recent macroeconomic trends, with an eye on achieving the annual economic growth target of about 5%, counter-cyclical adjustment measures need to be further strengthened to effectively solve the problems of insufficient effective demand and low price levels.
the research team of minsheng bank research institute pointed out that in the face of downward pressure, the decision-makers recently emphasized the need to "grasp the economic work at the end of the third quarter and the fourth quarter, and strive to complete the annual economic and social development goals and tasks." this indicates that policies will continue to increase in order to achieve the annual growth target of around 5.0%.
orient securities' macroeconomic team pointed out that, overall, the data in august continued the previous characteristics. as of now, there is still great pressure on whether gdp in the third quarter can rebound. old for new, equipment renewal, and the implementation of fiscal funds will be the focus of the subsequent strengthening of the stable growth effect.
industrial production grew steadily, with equipment manufacturing and high-tech manufacturing growing rapidly
data shows that in august, the added value of industrial enterprises above designated size increased by 4.5% year-on-year and 0.32% month-on-month. from january to august, the added value of industrial enterprises above designated size increased by 5.8% year-on-year.
in terms of the three major categories, in august, the added value of mining increased by 3.7% year-on-year, manufacturing increased by 4.3%, and electricity, heat, gas and water production and supply increased by 6.8%. in terms of economic types, in august, the added value of state-controlled enterprises increased by 3.6% year-on-year; joint-stock enterprises increased by 5.0%; foreign-invested enterprises and hong kong, macao and taiwan-invested enterprises increased by 2.8%; and private enterprises increased by 4.5%. in terms of industry, in august, the added value of 32 of the 41 major industries maintained year-on-year growth.
the scale of fixed asset investment expanded, and investment in high-tech industries grew rapidly
data shows that from january to august, the national fixed asset investment (excluding farmers) was 3293.85 billion yuan, a year-on-year increase of 3.4%; excluding real estate development investment, the national fixed asset investment increased by 7.7%. in august, fixed asset investment (excluding farmers) increased by 0.16% month-on-month.
in terms of different industries, the investment in the primary industry was 614.6 billion yuan, up 2.9% year-on-year; the investment in the secondary industry was 1127.78 billion yuan, up 12.1%; the investment in the tertiary industry was 2104.61 billion yuan, down 0.8%. in the secondary industry, the investment in industry increased by 12.1% year-on-year. among them, the investment in mining industry increased by 15.6%, the investment in manufacturing industry increased by 9.1%, and the investment in the production and supply of electricity, heat, gas and water increased by 23.5%. in the tertiary industry, the investment in infrastructure (excluding the production and supply of electricity, heat, gas and water) increased by 4.4% year-on-year. among them, the investment in water conservancy management industry increased by 32.6%, the investment in aviation transportation industry increased by 20.3%, and the investment in railway transportation industry increased by 16.1%.
market sales continued to grow, with online retail growing faster
data shows that in august, the total retail sales of consumer goods was 3872.6 billion yuan, a year-on-year increase of 2.1%. among them, the retail sales of consumer goods other than automobiles was 3478.3 billion yuan, an increase of 3.3%. from january to august, the total retail sales of consumer goods was 31245.2 billion yuan, a year-on-year increase of 3.4%. among them, the retail sales of consumer goods other than automobiles was 28177.2 billion yuan, an increase of 3.9%.
from january to august, the national online retail sales reached 9635.2 billion yuan, up 8.9% year-on-year. among them, the online retail sales of physical goods reached 8014.3 billion yuan, up 8.1%, accounting for 25.6% of the total retail sales of social consumer goods; among the online retail sales of physical goods, food, clothing, and daily necessities increased by 19.1%, 5.0%, and 7.0% respectively.
beijing news shell financial reporter chen yan editor chen li proofreading lu qian
