宏观纵览 | 多项数据显示经济向好回升，更多增量政策已在路上

Core Viewpoint - Recent economic data indicates significant improvement, driven by effective implementation of policies aimed at boosting consumption, stabilizing investment, and ensuring livelihoods [2][15]. Logistics Industry - The logistics industry experienced a notable expansion, with the logistics prosperity index for August reaching 50.9%, an increase of 0.4 percentage points from the previous month [4]. - Key sub-indices, including the total business volume index and new orders index, have shown continuous expansion, with the total business volume index remaining in the expansion zone for six consecutive months and the new orders index for seven months [4]. - The logistics service price index rose by 0.3 percentage points month-on-month, indicating improved microeconomic vitality and business conditions [4]. Manufacturing Sector - The manufacturing purchasing managers' index (PMI) for August was reported at 49.4, a slight increase of 0.1 percentage points, suggesting a stabilization in market demand [7]. - The production index for manufacturing reached 50.8, up 0.3 percentage points, reflecting a stable expansion in production activities [7]. - New momentum in the manufacturing sector is evident, with the equipment manufacturing PMI at 50.5 and high-tech manufacturing PMI at 51.9, both showing month-on-month increases [7]. Non-Manufacturing Sector - The non-manufacturing business activity index for August was 50.3, up 0.2 percentage points, indicating continued expansion in the sector [8]. - The service industry business activity index reached 50.5, marking the highest point of the year, driven by summer consumption and supportive policies [8]. Investment and Infrastructure - Government investment in projects has increased, with project bidding amounts from January to July rising by 31.9% year-on-year, indicating a robust investment climate [9]. - The construction machinery operating rate improved by 0.7 percentage points in July, reflecting a positive trend in infrastructure development [9]. Policy Measures - The National Development and Reform Commission (NDRC) plans to enhance consumer confidence and spending through a series of targeted policies, including promoting private investment in key projects [12]. - The "Artificial Intelligence+" initiative is being accelerated, with specific implementation plans and supporting documents being developed to enhance service consumption and economic vitality [12][13].