Economic Overview - The external environment remains complex and variable, with a focus on domestic demand recovery for the economy [1] - The Chief Economist Confidence Index from First Financial Research Institute stands at 50.3, indicating stable economic performance with a target growth rate of 5% for the year [1] Industrial Growth - The predicted year-on-year growth rate for industrial added value in October is 5.7%, down from 6.5% in the previous month [2] - The manufacturing PMI for October is reported at 49.0%, a decrease of 0.8 percentage points from the previous month, indicating a decline in manufacturing activity [2][3] - High-frequency data shows a strong production trend in the steel sector, with the average blast furnace operating rate at 84.38%, up 3.31 percentage points year-on-year [3] Consumer Spending - The forecast for year-on-year growth in retail sales of consumer goods for October is 2.7%, down from 3% in the previous month [4] - The non-manufacturing business activity index for October is at 50.1%, indicating expansion, driven by holiday consumption [4] - The automotive industry sees record production and sales figures, with October production reaching 3.359 million vehicles, a year-on-year increase of 12.1% [5] Investment Trends - Fixed asset investment is expected to decline by 0.8% year-on-year, with infrastructure investment showing signs of potential recovery due to new policy financial tools [6][7] - Real estate investment continues to face challenges, with significant declines in property transactions in major cities [6][7] Policy and Economic Goals - The government aims to achieve the annual economic growth target despite external challenges, with a focus on effective policy implementation [8] - Recent policies include the issuance of 500 billion yuan in new policy financial tools to support key investment projects [9] - Local governments are actively deploying measures to stimulate consumption and investment, including issuing consumption vouchers and launching major infrastructure projects [10]
重磅经济数据即将发布,央地加力冲刺全年经济增长目标
Di Yi Cai Jing·2025-11-12 12:12