国家统计局：10月份国民经济持续稳中有进 积极变化增多

Core Viewpoint - The economic performance in the first ten months of 2025 shows resilience and stability, with various indicators reflecting positive changes, supporting the achievement of annual economic and social development goals [1][3][7]. Economic Indicators - Industrial production continues to grow, with the industrial added value for October increasing by 4.9% year-on-year and 1.17% month-on-month [3]. - The equipment manufacturing sector outperformed, with an added value growth of 8% year-on-year, significantly contributing to overall industrial growth [4]. - The service sector also maintained growth, with the service production index rising by 4.6% year-on-year in October [4]. Consumer Demand - Social retail sales increased by 2.9% year-on-year in October, driven by holiday consumption and the success of consumption-boosting initiatives [5]. - The retail sales of communication equipment and cultural office supplies grew by 23.2% and 13.5%, respectively, among enterprises above designated size [5]. - Service retail sales rose by 5.3% year-on-year from January to October, outpacing goods retail sales [6]. Employment and Prices - The urban unemployment rate was 5.1% in October, a decrease of 0.1 percentage points from the previous month, indicating stable employment conditions [6]. - The Consumer Price Index (CPI) turned from a decline of 0.3% to an increase of 0.2% year-on-year in October, with core CPI rising by 1.2% [6]. Investment Trends - Fixed asset investment (excluding rural households) reached 408.914 billion yuan from January to October, a year-on-year decrease of 1.7%, while investment excluding real estate development grew by 1.7% [8][9]. - Real estate development investment fell by 14.7% year-on-year, significantly dragging down overall investment growth by 3 percentage points [9]. - Manufacturing investment increased by 2.7% year-on-year, with its share rising to 25.6% of total investment [9][10]. Future Outlook - Despite challenges, the long-term fundamentals of the economy remain positive, with macro policies continuing to support growth [7][11]. - There is significant potential for investment to drive economic development, particularly in areas such as industrial upgrading and regional coordination [11].