国家统计局：政策效应继续显现 4月市场销售延续回升态势

Core Insights - The economic recovery in April 2025 is supported by the implementation of "two new" policies and special actions to boost consumption, leading to a stable growth in the consumption market [1][3] Group 1: Market Sales Performance - Market sales are steadily recovering, with a year-on-year growth of 4.7% in social retail sales from January to April, which is an acceleration of 0.1 percentage points compared to the first quarter [1] - Service retail sales also showed a year-on-year growth of 5.1%, similarly accelerating by 0.1 percentage points compared to the first quarter, marking two consecutive months of growth [1] Group 2: Impact of Trade-in Policies - Sales of goods related to the trade-in policy have significantly increased, with retail sales of household appliances and audio-visual equipment, cultural and office supplies, furniture, and communication equipment growing by 38.8%, 33.5%, 26.9%, and 19.9% respectively in April [2] Group 3: Growth in Essential and Upgraded Goods - Retail sales of essential and upgraded goods have also seen rapid growth, with year-on-year increases of 14% for grain and oil products, 23.3% for sports and entertainment products, and 25.3% for gold and silver jewelry in April [2] Group 4: Growth in Service Consumption - Service consumption related to travel and outings has grown rapidly, driven by strong demand during holidays, with double-digit growth in retail sales for transportation, communication, tourism consulting, and rental services from January to April [2] Group 5: New Consumption Drivers - The growth of new consumption drivers is notable, with online retail sales of physical goods increasing by 5.8% year-on-year from January to April, continuing to outpace the overall growth of social retail sales [2] Group 6: Future Outlook - While the policy effects are continuing to show, there is a need to further enhance the endogenous growth momentum of consumption, with plans to implement special actions to boost consumption, improve consumer capacity, increase quality supply, and enhance the consumption environment [3]