【新华解读】8月多项主要指标回落幅度收窄 我国经济“稳”的态势未变

Economic Overview - The national economic performance in August shows a stable and improving trend, with key indicators reflecting a steady state [2][5][11] - The overall economic operation remains stable, with a solid foundation for continued growth in the third quarter [2][11] Production Sector - In August, the industrial added value for large-scale industries grew by 5.2% year-on-year, a decrease of 0.5 percentage points from the previous month, but the decline was smaller than the 1.1 percentage points drop in July [2][5] - The service production index decreased by 0.2 percentage points to 5.6%, showing strong resilience [2][5] Demand Side - The total retail sales of consumer goods in August saw a year-on-year growth of 3.4%, down 0.3 percentage points from the previous month, but the decline was less than the 1.1 percentage points drop in July [4][5] - Fixed asset investment from January to August increased by 0.5% year-on-year, with a slowdown of 1.1 percentage points compared to January to July, but the decline was less than the previous month's 1.2 percentage points [4][5] Employment and Prices - The urban unemployment rate in August was 5.3%, slightly up from the previous month but unchanged from the same period last year, indicating stable employment [5] - The Consumer Price Index (CPI) in August fell by 0.4% year-on-year, primarily due to a drop in food prices, while the core CPI, excluding food and energy, rose by 0.9%, marking an expansion in growth for four consecutive months [5] New and Old Growth Drivers - The transition from old to new growth drivers is progressing steadily, with significant growth in high-tech manufacturing and modern services [6][7] - In August, the added value of equipment manufacturing and high-tech manufacturing increased by 8.1% and 9.3% year-on-year, respectively, outpacing the overall industrial growth [7] Policy Impact - Policies aimed at expanding domestic demand, such as large-scale equipment updates and consumer replacement programs, are showing positive effects [8] - Investment in equipment and tools increased by 14.4% year-on-year in the first eight months, contributing to a 2.1 percentage point rise in fixed asset investment [8] Future Outlook - The economic indicators suggest that the third quarter is likely to maintain a stable and improving development trend, supported by ongoing macroeconomic policies [9][11] - New incremental measures may be introduced in the fourth quarter to stabilize the macroeconomic environment and employment market [10]