多项硬指标回升向好，中国经济内生动能增强

Group 1: Electricity Consumption Trends - In the first nine months of the year, China's total electricity consumption reached 77,675 billion kilowatt-hours, a year-on-year increase of 4.6% [1][2] - The electricity consumption growth rate showed a quarterly recovery, with the first, second, and third quarters growing by 2.5%, 4.9%, and 6.1% respectively [2][3] - In the third quarter, total electricity consumption was 29,000 billion kilowatt-hours, with monthly growth rates of 8.6%, 5.0%, and 4.5% [2][3] Group 2: Industrial and Sectoral Performance - The secondary industry saw a 5.1% year-on-year increase in electricity consumption in the third quarter, contributing 51.0% to the overall growth [3][4] - High-energy-consuming industries collectively grew by 3.2% in electricity consumption in the third quarter, while high-tech and equipment manufacturing sectors expanded by 9.5% [4] - The manufacturing sector's electricity consumption increased by 5.2%, with 17 provinces reporting growth rates exceeding 5% [3][4] Group 3: Emerging Sectors and Infrastructure - New energy vehicles and related infrastructure, such as charging stations, significantly boosted electricity consumption in the information transmission and retail sectors, with growth rates of 18.3% and 11.7% respectively [5] - The internet and related services experienced a remarkable 33.8% increase in electricity consumption, driven by advancements in mobile internet, big data, and cloud computing [5] Group 4: Logistics and Transportation - The express delivery sector completed 1,450.8 million packages in the first three quarters, marking a 17.2% year-on-year increase [6][7] - National railway freight volume reached 3.03 billion tons in the first three quarters, with a daily average of 185,300 cars, reflecting a 3.4% year-on-year growth [7][8] - The construction machinery sector, indicated by excavator sales, saw a 25.4% year-on-year increase in September, with domestic sales up by 21.5% [8] Group 5: Future Investment Outlook - With external demand weakening, infrastructure investment is expected to play a stabilizing role in the economy in the fourth quarter [9] - Future investment growth will rely on new productivity and addressing social needs, with expectations for stabilization and recovery in investment [9]