7月份制造业利润同比增长6.8% 企业盈利水平继续好转

Core Insights - In July, manufacturing profits increased by 6.8% year-on-year, accelerating by 5.4 percentage points compared to June [1] - Overall, profits of industrial enterprises above designated size decreased by 1.5% year-on-year, but the decline narrowed by 2.8 percentage points from June, indicating a continued improvement in corporate profitability [1] Group 1: Manufacturing Sector Performance - The rapid growth in manufacturing profits significantly contributed to the recovery of profits in industrial enterprises above designated size, with the growth rate accelerating by 3.6 percentage points compared to June [2] - High-tech manufacturing profits showed remarkable growth, turning from a 0.9% decline in June to an 18.9% increase in July, contributing to a 2.9 percentage point acceleration in overall industrial profit growth [2] Group 2: Small and Medium Enterprises - Profits of medium and small enterprises improved significantly, with profits turning from declines of 7.8% and 9.7% in June to increases of 1.8% and 0.5% in July, respectively [2] - Private enterprises experienced a profit growth of 2.6% in July, exceeding the average growth rate of all industrial enterprises above designated size by 4.1 percentage points [2] Group 3: Future Outlook - The industry faces uncertainties in the external environment and insufficient domestic market demand, necessitating the implementation of stable and flexible policies to expand domestic demand and promote innovation-driven growth [2]